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Selling, general, & admin. expense (SGA) includes the direct and indirect costs and all general and administrative expenses of a company. Morgan Stanley's selling, general, & admin. expense for the
three
months ended in Mar. 2026 was €7,503 Mil.
Its selling, general, & admin. expense for the trailing twelve months (TTM) ended in Mar. 2026 was €27,751 Mil.
Morgan Stanley (FRA:DWD) Selling, General, & Admin. Expense Explanation
An efficient operation keeps SGA costs low and thus has higher profit margin. The percentage of SGA relative to total revenue is an indication of how efficiently the company operates. Compare this percentage among the companies in the same industry is a good way of finding more efficient operations. A comparison of the SGA cost relative to the revenue with the historical value can also be an indication of how efficient the company has become.
Warren Buffett likes companies with consistent SGA as the percentage of gross profit.
Companies with no durable competitive advantage show wild variation in SG&A as % of Gross Profit.
If SGA is less than 30% of Gross Profit, it is fantastic. If SGA is nearing 100%, it is is in highly competitive industry.
Morgan Stanley Selling, General, & Admin. Expense Related Terms
Morgan Stanley Selling, General, & Admin. Expense Historical Data
* Premium members only.
The historical data trend for Morgan Stanley's Selling, General, & Admin. Expense 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.
Morgan Stanley Selling, General, & Admin. Expense Chart
FRA:DWD vs GS, SCHW, HOOD: Selling, General, & Admin. Expense Comparison
For the Capital Markets subindustry, Morgan Stanley's Selling, General, & Admin. Expense, along with its competitors' market caps and Selling, General, & Admin. Expense 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 Selling, General, & Admin. Expense vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Morgan Stanley's Selling, General, & Admin. Expense distribution charts can be found below:
* The bar in red indicates where Morgan Stanley's Selling, General, & Admin. Expense falls into.
Morgan Stanley Selling, General, & Admin. Expense Calculation
Selling, General, & Admin. Expense (SGA) includes the direct and indirect costs and all general and administrative expenses of a company. For instance, personnel cost, advertising, rent, communication costs are all part of SGA.
Selling, General, & Admin. Expense for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €27,751 Mil.
* 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.
What does a Selling, General, & Admin. Expense of €27,751 Mil mean?
Morgan Stanley (FRA:DWD) has a Selling, General, & Admin. Expense of €27,751 Mil as of Mar. 2026. Selling, general and admin expense is the total cost for direct, indirect, general and administrative activities. View historical data on Morgan Stanley and its competitors.
Is Morgan Stanley's Selling, General, & Admin. Expense too high?
Morgan Stanley's current Selling, General, & Admin. Expense is €27,751 Mil. 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 Selling, General, & Admin. Expense compare to GS and SCHW?
Morgan Stanley's Selling, General, & Admin. Expense of €27,751 Mil can be compared against companies in the Capital Markets industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Selling, General, & Admin. Expense for a Capital Markets company?
A good Selling, General, & Admin. Expense depends on the Capital Markets industry context. However, Selling, General, & Admin. Expense should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Selling, General, & Admin. Expense mean?
A high Selling, General, & Admin. Expense can signal that a stock is expensive relative to its fundamentals. Selling, general and admin expense is the total cost for direct, indirect, general and administrative activities. View historical data on Morgan Stanley and its competitors. Morgan Stanley's current Selling, General, & Admin. Expense is €27,751 Mil. 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 (FRA:DWD) is currently considered Significantly Overvalued. The stock's GF Value™ is €132.64, compared to a current price of €190.30 — trading 43.5% above its estimated fair value. The current Selling, General, & Admin. Expense is €27,751 Mil. 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 Selling, General, & Admin. Expense calculated?
Selling, General, & Admin. Expense is calculated from a company's financial statements. For Morgan Stanley (FRA:DWD), the current Selling, General, & Admin. Expense is €27,751 Mil as of Mar. 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 (FRA:DWD) Overvalued in 2026?
Based on GuruFocus' analysis, Morgan Stanley stock appears to be overvalued.
The current stock price of €190.30 is trading 43.5% above its estimated GF Value™ of €132.64.
GuruFocus considers Morgan Stanley to be Significantly Overvalued.
Key valuation signals for FRA:DWD:
Selling, General, & Admin. Expense: €27,751 Mil
GF Value™: €132.64 vs. price of €190.30 (43.5% above fair value)
No single metric tells the full story. See the FRA: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 FRA:DWD
Selling, General, & Admin. Expense is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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