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Morgan StanleyXSWX:MS -0.44%74 Price-to-Tangible-Book is 4.15 as of Aug. 19, 2026, which is 109% above its 10-year median of 1.99. GuruFocus rates XSWX:MS with a GF Score™ of 74/100 and a GF Value™ of CHF139.62. The stock has 7 warning signs investors should review. Among 745 Capital Markets companies, Morgan Stanley ranks worse than 80.27% on this metric.
Some businesses have very light assets, such as software companies or insurance agencies. The Price-to-Book Ratio does not work well for these companies. Some companies even have negative equity, so the Price-to-Book Ratio cannot be applied to them.
Morgan Stanley Price-to-Tangible-Book Related Terms
Morgan Stanley Price-to-Tangible-Book Historical Data
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The historical data trend for Morgan Stanley's Price-to-Tangible-Book 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.
XSWX:MS vs GS, SCHW, HOOD: Price-to-Tangible-Book Comparison
For the Capital Markets subindustry, Morgan Stanley's Price-to-Tangible-Book, along with its competitors' market caps and Price-to-Tangible-Book 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 Price-to-Tangible-Book vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Morgan Stanley's Price-to-Tangible-Book distribution charts can be found below:
* The bar in red indicates where Morgan Stanley's Price-to-Tangible-Book falls into.
* 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 PB Ratio. The difference between Price-to-Tangible-Book Ratio and PB Ratio is that book value other than intangibles are used in the calculation.
Morgan Stanley (XSWX:MS) has a Price-to-Tangible-Book of 4.15 as of Aug. 19, 2026. Price-to-tangible-book ratio is the ratio of share price to a company's tangible book value per share. View historical data on Morgan Stanley and its competitors. This is 109% above median its historical median of 1.99. Over the past decade, Morgan Stanley's Price-to-Tangible-Book has ranged from 0.79 to 4.09. According to the industry distribution chart, Morgan Stanley ranks #598 out of 745 companies in the Capital Markets industry, placing it in the top 80.3%.
Is Morgan Stanley's Price-to-Tangible-Book too high?
Morgan Stanley's current Price-to-Tangible-Book of 4.15 is 109% above median its 10-year median of 1.99. Over the past 10 years, this metric has ranged from a low of 0.79 to a high of 4.09. The Capital Markets industry median Price-to-Tangible-Book is 1.37. Morgan Stanley's value of 4.15 is 202.9% above this industry median. Based on the distribution chart, Morgan Stanley ranks #598 out of 745 companies in the Capital Markets industry, which is in the bottom quartile relative to peers. Overall, Morgan Stanley has a GF Score™ of 74/100, reflecting its overall financial health beyond just this single metric.
How does Morgan Stanley's Price-to-Tangible-Book compare to GS and SCHW?
According to the Capital Markets industry distribution chart, Morgan Stanley ranks #598 out of 745 companies for Price-to-Tangible-Book. This places Morgan Stanley in the lower half of its industry. The industry median Price-to-Tangible-Book is 1.37. Morgan Stanley's value of 4.15 is 202.9% above this benchmark. Historically, Morgan Stanley's own Price-to-Tangible-Book has ranged from 0.79 to 4.09 over the past decade. While the company's 10-year median is 1.99 vs. the industry median of 1.37, 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 Price-to-Tangible-Book for a Capital Markets company?
The median Price-to-Tangible-Book among Capital Markets companies is 1.37, based on 745 companies in the industry. Companies in the top quartile (top 25%) have a Price-to-Tangible-Book significantly above this median, while those in the bottom quartile fall well below. However, Price-to-Tangible-Book should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Morgan Stanley's current Price-to-Tangible-Book of 4.15 is 202.9% 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 Price-to-Tangible-Book mean?
A high Price-to-Tangible-Book can signal that a stock is expensive relative to its fundamentals. Price-to-tangible-book ratio is the ratio of share price to a company's tangible book value per share. View historical data on Morgan Stanley and its competitors. For the Capital Markets industry, the median Price-to-Tangible-Book is 1.37 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Morgan Stanley's current Price-to-Tangible-Book is 4.15, which is 109% above median its own 10-year median of 1.99. 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?
Morgan Stanley (XSWX:MS) has a current Price-to-Tangible-Book of 4.15. The stock's GF Value™ is CHF139.62, compared to a current price of CHF176.20 — trading 26.2% above its estimated fair value. The current Price-to-Tangible-Book is 4.15, which is 109% above median its 10-year median of 1.99 and 202.9% above the Capital Markets industry median of 1.37. Morgan Stanley's overall GF Score™ is 74/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Price-to-Tangible-Book calculated?
Price-to-Tangible-Book is calculated from a company's financial statements. For Morgan Stanley (XSWX:MS), the current Price-to-Tangible-Book is 4.15 as of Aug. 19, 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 (XSWX:MS) Overvalued in 2026?
Based on GuruFocus' analysis, Morgan Stanley stock appears to be overvalued.
The current stock price of CHF176.20 is trading 26.2% above its estimated GF Value™ of CHF139.62.
Key valuation signals for XSWX:MS:
Price-to-Tangible-Book: 4.15 (109% above median its 10-year median of 1.99)
GF Value™: CHF139.62 vs. price of CHF176.20 (26.2% above fair value)
Industry Position: 202.9% above the Capital Markets median (#598 of 745)
No single metric tells the full story. See the XSWX:MS 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.
74GF Score
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