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Morgan Stanley (NYSE:MS)
Shiller P/E Ratio
14.08 (As of Today)

As of today, Morgan Stanley's current share price is $33.78. Morgan Stanley's E10 for the quarter that ended in Sep. 2015 was $2.40. Morgan Stanley's Shiller P/E Ratio for today is 14.08.

MS' s 10-Year Shiller P/E Ratio Range
Min: 2.01   Max: 16.96
Current: 14.06


During the past 13 years, Morgan Stanley's highest Shiller P/E Ratio was 16.96. The lowest was 2.01. And the median was 8.80.

MS's Shiller P/E Ratiois ranked higher than
72% of the 85 Companies
in the Global Capital Markets industry.

( Industry Median: 24.46 vs. MS: 14.06 )

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller P/E calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years.

Morgan Stanley's adjusted earnings per share data for the three months ended in Sep. 2015 was $0.480. Add all the adjusted EPS for the past 10 years together and divide 10 will get our E10, which is $2.40 for the trailing ten years ended in Sep. 2015.


For the Shiller P/E, the earnings of the past 10 years are inflation-adjusted and averaged. The result is used for P/E calculation. Since it looks at the average over the last 10 years, the Shiller P/E is also called PE10.

The Shiller P/E was first used by professor Robert Shiller to measure the valuation of the overall market. The same calculation is applied here to individual companies.

Morgan Stanley's Shiller P/E Ratio for today is calculated as

Shiller P/E Ratio=Share Price/E10

* All numbers are in millions except for per share data and ratio. All numbers are in their own currency.

Morgan Stanley's E10 for the fiscal year that ended in Dec14 is calculated as:

For example, Morgan Stanley's adjusted earnings per share data for the three months ended in Sep. 2015 was:

Adj_EPS=Earnigns per Share/CPI of Sep. 2015 (Change)*Current CPI (Sep. 2015)

Current CPI (Sep. 2015) = 237.945.

Morgan Stanley Quarterly Data

per share eps 0.4100.4500.0180.7400.9200.830-0.9101.1800.8500.480
CPI 233.504234.149233.049236.293238.343238.031234.812236.119238.638237.945
Adj_EPS 0.4180.4570.0180.7450.9180.830-0.9221.1890.8480.480
per share eps 0.4330.500-0.3801.150-0.145-0.0600.290-0.5500.2810.480
CPI 219.179223.467225.722226.889225.672229.392229.478231.407229.601232.773
Adj_EPS 0.4700.532-0.4011.206-0.153-0.0620.301-0.5660.2910.491
per share eps 0.9501.320-2.346-0.570-1.1000.3800.3040.9901.090-0.070
CPI 216.632219.086212.425212.709215.693215.969215.949217.631217.965218.439
Adj_EPS 1.0431.434-2.628-0.638-1.2130.4190.3351.0821.190-0.076
per share eps 2.2781.4801.7501.7502.0792.5102.4501.440-3.6081.450
CPI 197.600198.700202.500203.900201.500203.499207.949207.917210.177211.693
Adj_EPS 2.7431.7722.0562.0422.4552.9352.8031.648-4.0851.630

Add all the adjusted EPS together and divide 10 will get our E10.


Compared with the regular P/E ratio, which works poorly for cyclical businesses, the Shiller P/E smoothed out the fluctuations of profit margins during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Shiller P/E should give similar results to regular P/E.

Compared with the P/S ratio, the Shiller P/E makes the comparison between different industries more meaningful.

Be Aware

The Shiller P/E assumes that over the long term, businesses and profitability revert to their means. If a company’s business model does not work in the future compared with the past, the Shiller P/E and P/S ratio will give false valuations.

Related Terms

P/E Ratio, P/B Ratio, P/S Ratio, Price-to-Free-Cash-Flow ratio, E10

Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their own currency.

Morgan Stanley Annual Data

ShillerPE 11.9014.7611.743.427.907.894.646.4911.4916.12

Morgan Stanley Quarterly Data

ShillerPE 8.379.4711.4911.5812.1013.0016.1215.0816.3613.11
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