MS Morgan Stanley

capital_markets · 2026-10-13

N/A

fair · 60

Owner-earnings value$100.12

Price$190.02

Margin of safety -47.3%

Quality gate · 60/100

Returns on capital 15.8/30

Consistency 15.8/22

Margins / pricing power 4/16

Balance sheet 13.6/16

Cash conversion 5.0/10

Capital allocation 5.6/6

Median ROE11.9%

FCF conversion-138%

Share count / yr-1.9%

Profitable years4/4

Moat & management

Owner-earnings inputs

Owner earnings (TTM)	20.16B
Owner-earnings yield	6.8%
Free-cash-flow yield	-6.2%
Growth used (normalized)	8.0%
Terminal growth	3.0%
Discount rate (hurdle)	10.7%

⚠ financial — owner earnings ≈ net income · financial — valued by residual income (ROE vs cost of equity on book equity)

Date	Quality	Price	Value	MoS	Rating
2026-10-13	60	$190.02	$100.12	-47.3%	N/A
2026-09-04	60	$217.15	$103.34	-52.4%	N/A
2026-07-29	60	$211.58	$103.79	-50.9%	N/A
2026-07-02	60	$211.86	$104.49	-50.7%	N/A
2026-06-25	63	$219.86	$105.00	-52.2%	N/A
2026-06-23	63	$226.03	$104.36	-53.8%	N/A

Date

Quality

Price

Value

MoS

Rating

2026-10-13

$190.02

$100.12

-47.3%

N/A

2026-09-04

$217.15

$103.34

-52.4%

N/A

2026-07-29

$211.58

$103.79

-50.9%

N/A

2026-07-02

$211.86

$104.49

-50.7%

N/A

2026-06-25

$219.86

$105.00

-52.2%

N/A

2026-06-23

$226.03

$104.36

-53.8%

N/A

Quality gate · 60/100

Moat & management

Owner-earnings inputs

History