Morgan Stanley

SWX:MS Stock Report

Market Cap: CHF 266.9b

Morgan Stanley Valuation

Is MS undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of MS when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

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Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: MS (CHF170.24) is trading below our estimate of future cash flow value (CHF198.09)

Significantly Below Future Cash Flow Value: MS is trading below future cash flow value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for MS?

Key metric: As MS is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for MS. This is calculated by dividing MS's market cap by their current earnings.
What is MS's PE Ratio?
PE Ratio16.9x
EarningsUS$19.55b
Market CapUS$330.21b

Price to Earnings Ratio vs Peers

How does MS's PE Ratio compare to its peers?

The above table shows the PE ratio for MS vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average16.6x
SQN Swissquote Group Holding
17.1x8.75%CHF 6.3b
UBSG UBS Group
16.9x12.76%CHF 130.3b
CFT Compagnie Financière Tradition
16.7x5.90%CHF 2.2b
GS Goldman Sachs Group
15.6x2.80%US$314.2b
MS Morgan Stanley
16.9x2.39%CHF 330.2b

Price-To-Earnings vs Peers: MS is expensive based on its Price-To-Earnings Ratio (16.9x) compared to the peer average (16.6x).

Historical Price to Earnings Ratio

Historical Price to Earnings Ratio compares a stock's price to its earnings over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Earnings Ratio vs Industry

How does MS's PE Ratio compare vs other companies in the European Capital Markets Industry?

17 CompaniesPrice / EarningsEstimated GrowthMarket Cap
MS 16.9xIndustry Avg. 13.8xNo. of Companies46PE01224364860+
17 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: MS is expensive based on its Price-To-Earnings Ratio (16.9x) compared to the European Capital Markets industry average (13.8x).

Price to Earnings Ratio vs Fair Ratio

What is MS's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

MS PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio16.9x
Fair PE Ratio21.7x

Price-To-Earnings vs Fair Ratio: MS is good value based on its Price-To-Earnings Ratio (16.9x) compared to the estimated Fair Price-To-Earnings Ratio (21.7x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst MS forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCHF 170.24
CHF 190.21
+11.73%
9.16%CHF 210.82CHF 148.06n/a21
Jul ’27CHF 170.48
CHF 167.62
-1.68%
8.62%CHF 193.76CHF 133.21n/a21
Jun ’27CHF 164.84
CHF 159.92
-2.99%
8.36%CHF 180.93CHF 129.80n/a21
May ’27CHF 148.20
CHF 157.15
+6.04%
9.50%CHF 180.55CHF 129.53n/a21
Apr ’27CHF 131.38
CHF 153.04
+16.49%
10.51%CHF 175.64CHF 121.59n/a21
Mar ’27CHF 130.78
CHF 151.13
+15.56%
10.04%CHF 170.82CHF 114.40n/a21
Feb ’27CHF 139.67
CHF 150.27
+7.59%
10.05%CHF 169.97CHF 113.83n/a21
Jan ’27CHF 141.67
CHF 136.75
-3.48%
8.52%CHF 160.02CHF 110.91n/a21
Dec ’26n/a
CHF 136.96
0%
9.56%CHF 159.92CHF 100.96n/a21
Nov ’26n/a
CHF 135.30
0%
9.09%CHF 149.66CHF 100.58n/a20
Oct ’26n/a
CHF 118.42
0%
9.60%CHF 136.29CHF 97.23n/a19
Sep ’26n/a
CHF 114.96
0%
8.26%CHF 128.25CHF 97.79n/a19
Aug ’26n/a
CHF 115.09
0%
8.08%CHF 128.81CHF 98.22CHF 170.2419
Jul ’26n/a
CHF 100.19
0%
10.81%CHF 123.61CHF 80.03CHF 170.4819
Jun ’26n/a
CHF 102.08
0%
9.52%CHF 128.30CHF 83.06CHF 164.8419
May ’26n/a
CHF 103.05
0%
9.98%CHF 128.75CHF 83.35CHF 148.2019
Apr ’26n/a
CHF 119.46
0%
9.69%CHF 137.89CHF 89.27CHF 131.3819
Mar ’26n/a
CHF 125.18
0%
8.85%CHF 143.55CHF 96.00CHF 130.7819
Feb ’26n/a
CHF 125.73
0%
9.08%CHF 142.07CHF 96.54CHF 139.6719
Jan ’26n/a
CHF 114.03
0%
9.98%CHF 129.49CHF 92.87CHF 141.6718
Dec ’25n/a
CHF 110.64
0%
10.07%CHF 125.84CHF 88.62n/a17
Nov ’25n/a
CHF 101.22
0%
10.50%CHF 116.94CHF 84.02n/a18
Oct ’25n/a
CHF 89.37
0%
8.00%CHF 102.39CHF 77.01n/a18
Sep ’25n/a
CHF 89.70
0%
8.95%CHF 103.43CHF 77.15n/a19
Aug ’25CHF 42.20
CHF 92.52
+119.25%
9.18%CHF 106.58CHF 79.50n/a18
CHF 191.24
Fair Value
11.0% undervalued intrinsic discount
21
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/07/31 21:53
End of Day Share Price 2026/07/31 00:00
Earnings2026/06/30
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Morgan Stanley is covered by 39 analysts. 16 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Stephen BiggarArgus Research Company
Jason GoldbergBarclays
Eoin MullanyBerenberg