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MS (Morgan Stanley) Cyclically Adjusted Price-to-FCF : (As of Jul. 13, 2025)


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What is Morgan Stanley Cyclically Adjusted Price-to-FCF?

Shiller PE for Stocks: The True Measure of Stock Valuation


Morgan Stanley Cyclically Adjusted Price-to-FCF Historical Data

The historical data trend for Morgan Stanley's Cyclically Adjusted Price-to-FCF can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Morgan Stanley Cyclically Adjusted Price-to-FCF Chart

Morgan Stanley Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Cyclically Adjusted Price-to-FCF
Get a 7-Day Free Trial Premium Member Only Premium Member Only 13.99 15.71 18.98 908.17 -

Morgan Stanley Quarterly Data
Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25
Cyclically Adjusted Price-to-FCF Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 30,896.93 2,628.81 - - -

Competitive Comparison of Morgan Stanley's Cyclically Adjusted Price-to-FCF

For the Capital Markets subindustry, Morgan Stanley's Cyclically Adjusted Price-to-FCF, along with its competitors' market caps and Cyclically Adjusted Price-to-FCF data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Morgan Stanley's Cyclically Adjusted Price-to-FCF Distribution in the Capital Markets Industry

For the Capital Markets industry and Financial Services sector, Morgan Stanley's Cyclically Adjusted Price-to-FCF distribution charts can be found below:

* The bar in red indicates where Morgan Stanley's Cyclically Adjusted Price-to-FCF falls into.


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Morgan Stanley Cyclically Adjusted Price-to-FCF Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted Price-to-FCF takes the Free Cash Flow per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/FCF calculation. Because it considers this 10-year average, it's often referred to as the CAPFCF Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Price-to-FCF.

Morgan Stanley's Cyclically Adjusted FCF per Share for the quarter that ended in Mar. 2025 is calculated as:

For example, Morgan Stanley's adjusted Free Cash Flow per Share data for the three months ended in Mar. 2025 was:

Adj_FreeCashFlowPerShare=Free Cash Flow per Share/CPI of Mar. 2025 (Change)*Current CPI (Mar. 2025)
=-15.431/134.9266*134.9266
=-15.431

Current CPI (Mar. 2025) = 134.9266.

Morgan Stanley Quarterly Data

Free Cash Flow per Share CPI Adj_FreeCashFlowPerShare
201506 2.195 100.684 2.942
201509 0.075 100.392 0.101
201512 1.595 99.792 2.157
201603 2.017 100.470 2.709
201606 6.214 101.688 8.245
201609 -4.651 101.861 -6.161
201612 -1.519 101.863 -2.012
201703 -0.141 102.862 -0.185
201706 -7.990 103.349 -10.431
201709 2.836 104.136 3.675
201712 2.002 104.011 2.597
201803 6.910 105.290 8.855
201806 -7.567 106.317 -9.603
201809 8.171 106.507 10.351
201812 -4.506 105.998 -5.736
201903 9.846 107.251 12.387
201906 6.074 108.070 7.583
201909 7.919 108.329 9.863
201912 -0.314 108.420 -0.391
202003 14.928 108.902 18.495
202006 -11.071 108.767 -13.734
202009 -4.464 109.815 -5.485
202012 -14.397 109.897 -17.676
202103 14.496 111.754 17.502
202106 2.228 114.631 2.622
202109 0.833 115.734 0.971
202112 -0.169 117.630 -0.194
202203 -0.235 121.301 -0.261
202206 8.192 125.017 8.841
202209 -4.956 125.227 -5.340
202212 -8.805 125.222 -9.487
202303 -6.364 127.348 -6.743
202306 -6.370 128.729 -6.677
202309 1.725 129.860 1.792
202312 -11.496 129.419 -11.985
202403 2.193 131.776 2.245
202406 1.039 132.554 1.058
202409 -11.336 133.029 -11.498
202412 6.792 133.157 6.882
202503 -15.431 134.927 -15.431

Add all the adjusted free cash flow per share together and divide 10 will get our Cyclically Adjusted FCF per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.


Morgan Stanley  (NYSE:MS) Cyclically Adjusted Price-to-FCF Explanation

Compared with the regular Price-to-Free-Cash-Flow, which works poorly for cyclical businesses, the Cyclically Adjusted Price-to-FCF smoothed out the fluctuations of free cash flow during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted Price-to-FCF should give similar results to regular Price-to-Free-Cash-Flow.


Morgan Stanley Cyclically Adjusted Price-to-FCF Related Terms

Thank you for viewing the detailed overview of Morgan Stanley's Cyclically Adjusted Price-to-FCF provided by GuruFocus.com. Please click on the following links to see related term pages.


Morgan Stanley Business Description

Address
1585 Broadway, New York, NY, USA, 10036
Morgan Stanley is a global investment bank whose history, through its legacy firms, can be traced back to 1924. The company has institutional securities, wealth management, and investment management segments with approximately 45% of net revenue from its institutional securities business, 45% from wealth management, and 10% from investment management. About 24% of its total revenue is from outside the Americas. The company had over $6 trillion of client assets as well as around 70,000 employees at the end of 2024.
Executives
Daniel A Simkowitz officer: Head of Investment Management C/O MORGAN STANLEY, 1585 BROADWAY, NEW YORK NY 10036
Robert H Herz director C/O FANNIE MAE, 1100 15TH STREET, NW, WASHINGTON DC 20005
Andrew M Saperstein officer: Head of Wealth Management 1585 BROADWAY, NEW YORK NY 10036
Eric F Grossman officer: Chief Legal Officer C/O MORGAN STANLEY, 1585 BROADWAY, NEW YORK NY 10036
Mandell Crawley officer: Chief Human Resources Officer 1585 BROADWAY, NEW YORK NY 10036
Raja Akram officer: Deputy Chief Financial Officer 1585 BROADWAY, NEW YORK NY 10036
Stephen J Luczo director
Sharon Yeshaya officer: Chief Financial Officer C/O MORGAN STANLEY, 1585 BROADWAY, NEW YORK NY 10036
James P Gorman other: Business Unit Head C/O MORGAN STANLEY, 1585 BROADWAY, NEW YORK NY 10036
Smith Charles Aubrey Iii officer: Chief Risk Officer 1585 BROADWAY, NEW YORK NY 10036
Edward N Pick officer: Head of Inst'l Securities 1585 BROADWAY, NEW YORK NY 10036
Thomas H Glocer director 2000 GALLOPING HILL ROAD, KENILWORTH NJ 07033
Alistair Darling director C/O MORGAN STANLEY 1585 BROADWAY, NEW YORK X1 10036
Masato Miyachi director C/O MORGAN STANLEY 1585 BROADWAY, NEW YORK NY 10036
Keishi Hotsuki officer: Interim Chief Risk Officer C/O MORGAN STANLEY, 1585 BROADWAY, NEW YORK NY 10036