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Morgan Stanley (MEX:MS) E10 : MXN126.43 (As of Mar. 2025)


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What is Morgan Stanley E10?

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 Mar. 2025 was MXN53.191. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is MXN126.43 for the trailing ten years ended in Mar. 2025.

During the past 12 months, Morgan Stanley's average E10 Growth Rate was 9.40% per year. During the past 3 years, the average E10 Growth Rate was 13.90% per year. During the past 5 years, the average E10 Growth Rate was 17.60% per year. During the past 10 years, the average E10 Growth Rate was 12.80% per year. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the E10 growth rate using E10 data.

During the past 13 years, the highest 3-Year average E10 Growth Rate of Morgan Stanley was 24.40% per year. The lowest was -13.20% per year. And the median was 3.40% per year.

As of today (2025-07-06), Morgan Stanley's current stock price is MXN2650.00. Morgan Stanley's E10 for the quarter that ended in Mar. 2025 was MXN126.43. Morgan Stanley's Shiller PE Ratio of today is 20.96.

During the past 13 years, the highest Shiller PE Ratio of Morgan Stanley was 40.23. The lowest was 10.17. And the median was 18.52.


Morgan Stanley E10 Historical Data

The historical data trend for Morgan Stanley's E10 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 E10 Chart

Morgan Stanley Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
E10
Get a 7-Day Free Trial Premium Member Only Premium Member Only 63.68 87.73 96.63 92.05 126.48

Morgan Stanley Quarterly Data
Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25
E10 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 91.64 106.15 116.34 126.48 126.43

Competitive Comparison of Morgan Stanley's E10

For the Capital Markets subindustry, Morgan Stanley's Shiller PE Ratio, along with its competitors' market caps and Shiller PE Ratio 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 Shiller PE Ratio Distribution in the Capital Markets Industry

For the Capital Markets industry and Financial Services sector, Morgan Stanley's Shiller PE Ratio distribution charts can be found below:

* The bar in red indicates where Morgan Stanley's Shiller PE Ratio falls into.


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Morgan Stanley E10 Calculation

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller P/E calculation. When we calculate the today's Shiller P/E ratio of a stock, we use today's price divided by E10.

What is E10? How do we calculate E10?

E10 is the average of the inflation adjusted earnings of a company over the past 10 years. Let's use an example to explain.

If we want to calculate the E10 of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the earnings from 2001 through 2010.

We adjusted the earnings of 2001 earnings data with the total inflation from 2001 through 2010 to the equivalent earnings in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart earned $1 a share in 2001, then the 2001's equivalent earnings in 2010 is $1.4 a share. If Wal-Mart earns $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 earnings in 2010 is $1.35. So on and so forth, you get the equivalent earnings of past 10 years. Then you add them together and divided the sum by 10 to get E10.

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.

For example, Morgan Stanley's adjusted earnings per share data for the three months ended in Mar. 2025 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Mar. 2025 (Change)*Current CPI (Mar. 2025)
=53.191/134.9266*134.9266
=53.191

Current CPI (Mar. 2025) = 134.9266.

Morgan Stanley Quarterly Data

per share eps CPI Adj_EPS
201506 13.337 100.684 17.873
201509 8.111 100.392 10.901
201512 6.706 99.792 9.067
201603 9.468 100.470 12.715
201606 13.870 101.688 18.404
201609 15.662 101.861 20.746
201612 16.700 101.863 22.121
201703 18.829 102.862 24.698
201706 15.726 103.349 20.531
201709 16.878 104.136 21.869
201712 5.695 104.011 7.388
201803 26.343 105.290 33.758
201806 25.544 106.317 32.418
201809 21.885 106.507 27.725
201812 15.708 105.998 19.995
201903 26.963 107.251 33.921
201906 23.627 108.070 29.499
201909 25.072 108.329 31.228
201912 24.518 108.420 30.512
202003 23.682 108.902 29.341
202006 45.241 108.767 56.122
202009 36.671 109.815 45.057
202012 36.005 109.897 44.205
202103 44.766 111.754 54.048
202106 36.826 114.631 43.346
202109 40.713 115.734 47.464
202112 41.233 117.630 47.296
202203 40.220 121.301 44.738
202206 27.964 125.017 30.181
202209 29.569 125.227 31.859
202212 24.565 125.222 26.469
202303 30.642 127.348 32.466
202306 21.258 128.729 22.282
202309 24.038 129.860 24.976
202312 14.428 129.419 15.042
202403 33.524 131.776 34.325
202406 33.343 132.554 33.940
202409 37.018 133.029 37.546
202412 46.300 133.157 46.915
202503 53.191 134.927 53.191

Add all the adjusted EPS together and divide 10 will get our e10.


Morgan Stanley  (MEX:MS) E10 Explanation

If a company grows much fast than inflation, E10 may underestimate the company's earnings power. Shiller PE Ratio can seem to be too high even the actual P/E is low.

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 of today is calculated as

Shiller PE Ratio=Share Price/E10
=2650.00/126.43
=20.96

* 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.

During the past 13 years, the highest Shiller P/E Ratio of Morgan Stanley was 40.23. The lowest was 10.17. And the median was 18.52.


Be Aware

Shiller PE Ratio works better for cyclical companies. It gives you a better idea on the company's real earnings power.


Morgan Stanley E10 Related Terms

Thank you for viewing the detailed overview of Morgan Stanley's E10 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.