Morgan StanleySTU:DWD -2.63%71 PB Ratio is 3.39 as of Jun. 25, 2026, which is 128% above its 10-year median of 1.49. GuruFocus rates STU:DWD with a GF Score™ of 71/100 and a GF Value™ of €132.37 (Significantly Overvalued). The stock has 8 warning signs investors should review. Among 778 Capital Markets companies, Morgan Stanley ranks worse than 78.92% on this metric.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. As of today (2026-06-25), Morgan Stanley's share price is €194.10. Morgan Stanley's Book Value per Share for the quarter that ended in Mar. 2026 was €57.24. Hence, Morgan Stanley's PB Ratio of today is 3.39.
Warning Sign:
Morgan Stanley stock PB Ratio (=3.32) is close to 10-year high of 3.37.
The historical rank and industry rank for Morgan Stanley's PB Ratio or its related term are showing as below:
STU:DWD'
s PB Ratio Range Over the Past 10 Years
Min: 0.65 Med: 1.49 Max: 3.37
Current: 3.32
During the past 13 years, Morgan Stanley's highest PB Ratio was 3.37. The lowest was 0.65. And the median was 1.49.
STU:DWD's PB Ratio is ranked worse than 78.92% of 778
companies
in the Capital Markets industry
Industry Median: 1.31
vs STU:DWD: 3.32
During the past 12 months, Morgan Stanley's average Book Value Per Share Growth Rate was 9.60% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 5.70% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was 4.00% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was 6.30% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of Morgan Stanley was 52.30% per year. The lowest was -27.70% per year. And the median was 6.20% per year.
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
Morgan Stanley PB Ratio Related Terms
Morgan Stanley PB Ratio Historical Data
* Premium members only.
The historical data trend for Morgan Stanley's PB Ratio 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.
For the Capital Markets subindustry, Morgan Stanley's PB Ratio, along with its competitors' market caps and PB 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 PB Ratio vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Morgan Stanley's PB Ratio distribution charts can be found below:
* The bar in red indicates where Morgan Stanley's PB Ratio falls into.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
Morgan Stanley's PB Ratio for today is calculated as follows:
* 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.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
Morgan Stanley (STU:DWD) has a PB Ratio of 3.39 as of Jun. 25, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Morgan Stanley and its competitors. This is 128% above median its historical median of 1.49. Over the past decade, Morgan Stanley's PB Ratio has ranged from 0.65 to 3.37. According to the industry distribution chart, Morgan Stanley ranks #614 out of 778 companies in the Capital Markets industry, placing it in the top 78.9%.
Is Morgan Stanley's PB Ratio too high?
Morgan Stanley's current PB Ratio of 3.39 is 128% above median its 10-year median of 1.49. Over the past 10 years, this metric has ranged from a low of 0.65 to a high of 3.37. The Capital Markets industry median PB Ratio is 1.31. Morgan Stanley's value of 3.39 is 158.8% above this industry median. Based on the distribution chart, Morgan Stanley ranks #614 out of 778 companies in the Capital Markets industry, which is in the bottom quartile relative to peers. Overall, Morgan Stanley has a GF Score™ of 71/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Morgan Stanley's PB Ratio compare to GS and SCHW?
According to the Capital Markets industry distribution chart, Morgan Stanley ranks #614 out of 778 companies for PB Ratio. This places Morgan Stanley in the lower half of its industry. The industry median PB Ratio is 1.31. Morgan Stanley's value of 3.39 is 158.8% above this benchmark. Historically, Morgan Stanley's own PB Ratio has ranged from 0.65 to 3.37 over the past decade. While the company's 10-year median is 1.49 vs. the industry median of 1.31, Morgan Stanley has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good PB Ratio for a Capital Markets company?
The median PB Ratio among Capital Markets companies is 1.31, based on 778 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Morgan Stanley's current PB Ratio of 3.39 is 158.8% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Morgan Stanley and its competitors. For the Capital Markets industry, the median PB Ratio is 1.31 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Morgan Stanley's current PB Ratio is 3.39, which is 128% above median its own 10-year median of 1.49. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Morgan Stanley stock overvalued right now?
Based on GuruFocus' analysis, Morgan Stanley (STU:DWD) is currently considered Significantly Overvalued. The stock's GF Value™ is €132.37, compared to a current price of €194.10 — trading 46.6% above its estimated fair value. The current PB Ratio is 3.39, which is 128% above median its 10-year median of 1.49 and 158.8% above the Capital Markets industry median of 1.31. Morgan Stanley's overall GF Score™ is 71/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For Morgan Stanley (STU:DWD), the current PB Ratio is 3.39 as of Jun. 25, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Morgan Stanley (STU:DWD) Overvalued in 2026?
Based on GuruFocus' analysis, Morgan Stanley stock appears to be overvalued.
The current stock price of €194.10 is trading 46.6% above its estimated GF Value™ of €132.37.
GuruFocus considers Morgan Stanley to be Significantly Overvalued.
Key valuation signals for STU:DWD:
PB Ratio: 3.39 (128% above median its 10-year median of 1.49)
GF Value™: €132.37 vs. price of €194.10 (46.6% above fair value)
Industry Position: 158.8% above the Capital Markets median (#614 of 778)
No single metric tells the full story. See the STU:DWD stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Morgan Stanley is a massive global financial services firm, with offices in 42 countries and more than 82,000 employees as of year-end 2025. The firm cut its teeth in investment banking and institutional trading, where it maintains a strong presence today, but generates the lion share of its income from wealth and asset management franchises, where it boasted $9.3 trillion in client assets at the end of 2025. After reincorporation as a bank holding company in the wake of the global financial crisis, Morgan Stanley also boasts a top 10 banking franchise by deposits, with more than $400 billion in customer deposits, predominately attributable to cash sweeps from its wealth management and brokerage businesses.
71GF Score
Get the complete analysis for STU:DWD
PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
STU:DWD has been successfully added to your 
