Morgan Stanley reports EPS of $3.43 vs $2.60 a year ago, a 31.9% jump. Revenue up 16.3% YoY. ACCE score 77. Full recap inside.
Correction, 18 September 2026: an earlier version of this post described April 15 as the end of the quarter. It is the date the results were reported.
Morgan Stanley ($MS) reported results on April 15, 2026. EPS came in at $3.43, up from $2.60 in the same period a year earlier — a year-over-year increase of 31.9%. Revenue grew 16.3% over the same stretch.
The company did not provide forward guidance commentary alongside these results, so the numbers stand on their own for now.
The earnings print is the headline, but the broader picture around $MS adds context worth noting.
The ACCE score sits at 77/100, with a particularly strong Momentum reading of 90 and a Growth score of 88. Those two components reflect what the quarterly numbers confirm: the business is accelerating. Quality comes in at 72, and Value at 58 — the lowest of the four, which lines up with where the stock trades relative to fundamentals.
On the quality side, the data shows a net margin of 24.8%, ROE of 16.4%, and a FCF yield of 13.1%, with earnings quality flagged as strong. For a large financial services firm, those are meaningful figures. A 13.1% FCF yield in particular suggests the earnings are translating into real cash generation.
The trailing P/E of 20.0 and forward P/E of 18.6 reflect a market that is pricing in continued earnings growth — which the most recent quarter supports. The stock has returned 57.5% over the past year, so the market has already rewarded a lot of that momentum.
The tension worth watching: the 6-model fair value estimate sits at $195.61, which is 13.7% below the current price of $226.71. The consensus analyst target of $217.86 also sits below where the stock trades today. That gap between price and estimated fair value is the main reason the Value score is the weakest component of the ACCE breakdown.
The dividend yield of 1.8% adds a modest income component, but this is primarily a growth and momentum story right now.
With no guidance on the table, the next data point to watch is whether $MS can sustain the revenue growth rate that drove this quarter's results. A 16.3% top-line gain is not a given to repeat, and the forward P/E of 18.6 implies the market expects earnings to keep climbing.
For the current price and live score updates, see acceinvestments.com/stocks/MS.