AFG vs. MS: A Head-to-Head Stock Comparison

Updated on August 22, 2025

Here’s a clear look at AFG and MS, comparing key factors like historical performance, profitability, financial strength, growth, dividend, and valuation.

Company Profile

Symbol	AFG	MS
Company Name	American Financial Group, Inc.	Morgan Stanley
Country	United States	United States
GICS Sector	Financials	Financials
GICS Industry	Insurance	Capital Markets
Market Capitalization	11.18 billion USD	230.06 billion USD
Exchange	NYSE	NYSE
Listing Date	March 17, 1980	February 23, 1993
Security Type	Common Stock	Common Stock

Historical Performance

This chart compares the performance of AFG and MS by tracking the growth of an initial $10,000 investment in each. Use the tabs to select the desired time period. Data is adjusted for dividends and splits.

AFG vs. MS: Growth of a $10,000 investment over the past one year.

Historical Performance at a Glance

Symbol	AFG	MS
5-Day Price Return	0.57%	-2.96%
13-Week Price Return	5.48%	10.15%
26-Week Price Return	7.87%	5.32%
52-Week Price Return	3.77%	41.64%
Month-to-Date Return	7.37%	1.17%
Year-to-Date Return	-2.06%	14.64%
10-Day Avg. Volume	0.43M	4.60M
3-Month Avg. Volume	0.47M	5.68M
3-Month Volatility	20.01%	18.37%
Beta	0.74	1.34

Profitability

Return on Equity (TTM)

AFG

16.90%

Insurance Industry

Max: 29.03%
Q3: 18.11%
Median: 13.90%
Q1: 10.42%
Min: -0.64%

AFG’s Return on Equity of 16.90% is on par with the norm for the Insurance industry, indicating its profitability relative to shareholder equity is typical for the sector.

MS

13.95%

Capital Markets Industry

Max: 38.97%
Q3: 21.61%
Median: 13.77%
Q1: 8.31%
Min: -4.25%

MS’s Return on Equity of 13.95% is on par with the norm for the Capital Markets industry, indicating its profitability relative to shareholder equity is typical for the sector.

AFG vs. MS: A comparison of their Return on Equity (TTM) against their respective Insurance and Capital Markets industry benchmarks.

Net Profit Margin (TTM)

AFG

9.23%

Insurance Industry

Max: 26.78%
Q3: 14.06%
Median: 9.15%
Q1: 5.48%
Min: -7.05%

AFG’s Net Profit Margin of 9.23% is aligned with the median group of its peers in the Insurance industry. This indicates its ability to convert revenue into profit is typical for the sector.

MS

13.06%

Capital Markets Industry

Max: 66.67%
Q3: 35.11%
Median: 23.49%
Q1: 13.63%
Min: -15.18%

Falling into the lower quartile for the Capital Markets industry, MS’s Net Profit Margin of 13.06% indicates weaker profitability. This means the company retains a smaller portion of each dollar in sales as profit compared to its competitors.

AFG vs. MS: A comparison of their Net Profit Margin (TTM) against their respective Insurance and Capital Markets industry benchmarks.

Operating Profit Margin (TTM)

AFG

11.50%

Insurance Industry

Max: 35.49%
Q3: 19.49%
Median: 14.35%
Q1: 8.53%
Min: -5.25%

In the Insurance industry, Operating Profit Margin is often not the primary measure of operational efficiency.

MS

17.07%

Capital Markets Industry

Max: 86.40%
Q3: 46.46%
Median: 32.80%
Q1: 18.32%
Min: -21.87%

MS’s Operating Profit Margin of 17.07% is in the lower quartile for the Capital Markets industry. This indicates weaker profitability from core operations, which may stem from inefficiencies or competitive pressures on pricing.

AFG vs. MS: A comparison of their Operating Profit Margin (TTM) against their respective Insurance and Capital Markets industry benchmarks.

Profitability at a Glance

Symbol	AFG	MS
Return on Equity (TTM)	16.90%	13.95%
Return on Assets (TTM)	2.46%	1.15%
Net Profit Margin (TTM)	9.23%	13.06%
Operating Profit Margin (TTM)	11.50%	17.07%
Gross Profit Margin (TTM)	--	54.42%

Financial Strength

Current Ratio (MRQ)

AFG

3.88

Insurance Industry

Max: 2.97
Q3: 1.33
Median: 0.55
Q1: 0.15
Min: 0.00

For the Insurance industry, the Current Ratio is often not the most suitable measure of short-term liquidity.

MS

0.29

Capital Markets Industry

Max: 3.76
Q3: 1.89
Median: 1.01
Q1: 0.54
Min: -0.41

For the Capital Markets industry, the Current Ratio is often not the most suitable measure of short-term liquidity.

AFG vs. MS: A comparison of their Current Ratio (MRQ) against their respective Insurance and Capital Markets industry benchmarks.

Debt-to-Equity Ratio (MRQ)

AFG

0.33

Insurance Industry

Max: 1.25
Q3: 0.65
Median: 0.34
Q1: 0.22
Min: 0.00

The Debt-to-Equity Ratio is often not the primary focus for assessing leverage in the Insurance industry.

MS

7.68

Capital Markets Industry

Max: 6.62
Q3: 2.84
Median: 1.02
Q1: 0.32
Min: 0.00

The Debt-to-Equity Ratio is often not the primary focus for assessing leverage in the Capital Markets industry.

AFG vs. MS: A comparison of their Debt-to-Equity Ratio (MRQ) against their respective Insurance and Capital Markets industry benchmarks.

Interest Coverage Ratio (TTM)

AFG

14.21

Insurance Industry

Max: 43.68
Q3: 20.84
Median: 9.56
Q1: 3.34
Min: -5.73

The Interest Coverage Ratio is often not a primary indicator of debt servicing capacity in the Insurance industry.

MS

1.25

Capital Markets Industry

Max: 126.03
Q3: 60.98
Median: 11.77
Q1: 4.95
Min: -36.26

The Interest Coverage Ratio is often not a primary indicator of debt servicing capacity in the Capital Markets industry.

AFG vs. MS: A comparison of their Interest Coverage Ratio (TTM) against their respective Insurance and Capital Markets industry benchmarks.

Financial Strength at a Glance

Symbol	AFG	MS
Current Ratio (MRQ)	3.88	0.29
Quick Ratio (MRQ)	3.88	0.29
Debt-to-Equity Ratio (MRQ)	0.33	7.68
Interest Coverage Ratio (TTM)	14.21	1.25

Growth

Revenue Growth

AFG vs. MS: A side-by-side comparison of their Revenue Growth for the MRQ (YoY), TTM (YoY), 3-Year CAGR, and 5-Year CAGR periods.

EPS Growth

AFG vs. MS: A side-by-side comparison of their EPS Growth for the MRQ (YoY), TTM (YoY), 3-Year CAGR, and 5-Year CAGR periods.

Dividend

Dividend Yield (TTM)

AFG

6.84%

Insurance Industry

Max: 8.23%
Q3: 4.54%
Median: 3.42%
Q1: 1.97%
Min: 0.00%

With a Dividend Yield of 6.84%, AFG offers a more attractive income stream than most of its peers in the Insurance industry, signaling a strong commitment to shareholder returns.

MS

2.78%

Capital Markets Industry

Max: 10.26%
Q3: 4.86%
Median: 2.78%
Q1: 1.22%
Min: 0.00%

MS’s Dividend Yield of 2.78% is consistent with its peers in the Capital Markets industry, providing a dividend return that is standard for its sector.

AFG vs. MS: A comparison of their Dividend Yield (TTM) against their respective Insurance and Capital Markets industry benchmarks.

Dividend Payout Ratio (TTM)

AFG

99.74%

Insurance Industry

Max: 168.02%
Q3: 85.57%
Median: 50.71%
Q1: 22.04%
Min: 0.00%

AFG’s Dividend Payout Ratio of 99.74% is in the upper quartile for the Insurance industry. This indicates a strong commitment to shareholder returns but also suggests that a smaller portion of earnings is retained for reinvestment compared to many peers.

MS

43.20%

Capital Markets Industry

Max: 200.72%
Q3: 101.92%
Median: 57.97%
Q1: 32.36%
Min: 0.00%

MS’s Dividend Payout Ratio of 43.20% is within the typical range for the Capital Markets industry, suggesting a balanced approach between shareholder payouts and company reinvestment.

AFG vs. MS: A comparison of their Dividend Payout Ratio (TTM) against their respective Insurance and Capital Markets industry benchmarks.

Dividend at a Glance

Symbol	AFG	MS
Dividend Yield (TTM)	6.84%	2.78%
Dividend Payout Ratio (TTM)	99.74%	43.20%

Valuation

Price-to-Earnings Ratio (TTM)

AFG

14.58

Insurance Industry

Max: 28.91
Q3: 17.76
Median: 13.63
Q1: 10.02
Min: 2.89

AFG’s P/E Ratio of 14.58 is within the middle range for the Insurance industry. This suggests its valuation is in line with the sector average, representing neither a significant premium nor a discount compared to its peers.

MS

15.56

Capital Markets Industry

Max: 58.89
Q3: 31.00
Median: 18.54
Q1: 12.09
Min: 5.24

MS’s P/E Ratio of 15.56 is within the middle range for the Capital Markets industry. This suggests its valuation is in line with the sector average, representing neither a significant premium nor a discount compared to its peers.

AFG vs. MS: A comparison of their Price-to-Earnings Ratio (TTM) against their respective Insurance and Capital Markets industry benchmarks.

Price-to-Sales Ratio (TTM)

AFG

1.35

Insurance Industry

Max: 3.72
Q3: 1.98
Median: 1.23
Q1: 0.81
Min: 0.23

AFG’s P/S Ratio of 1.35 aligns with the market consensus for the Insurance industry. This suggests its valuation, based on sales, is seen as standard and is on par with its competitors.

MS

2.03

Capital Markets Industry

Max: 14.49
Q3: 7.41
Median: 4.68
Q1: 2.25
Min: 0.04

In the lower quartile for the Capital Markets industry, MS’s P/S Ratio of 2.03 indicates its revenue is valued more conservatively than most of its peers. This could present a compelling opportunity if the market has overlooked its sales-generating capabilities.

AFG vs. MS: A comparison of their Price-to-Sales Ratio (TTM) against their respective Insurance and Capital Markets industry benchmarks.

Price-to-Book Ratio (MRQ)

AFG

2.33

Insurance Industry

Max: 4.37
Q3: 2.48
Median: 1.68
Q1: 1.19
Min: 0.19

AFG’s P/B Ratio of 2.33 is within the conventional range for the Insurance industry. This shows a balanced market view, where the stock’s price is neither at a significant premium nor a discount to the book value of its peers.

MS

2.08

Capital Markets Industry

Max: 9.48
Q3: 4.94
Median: 2.42
Q1: 1.21
Min: 0.38

MS’s P/B Ratio of 2.08 is within the conventional range for the Capital Markets industry. This shows a balanced market view, where the stock’s price is neither at a significant premium nor a discount to the book value of its peers.

AFG vs. MS: A comparison of their Price-to-Book Ratio (MRQ) against their respective Insurance and Capital Markets industry benchmarks.

Valuation at a Glance

Symbol	AFG	MS
Price-to-Earnings Ratio (TTM)	14.58	15.56
Price-to-Sales Ratio (TTM)	1.35	2.03
Price-to-Book Ratio (MRQ)	2.33	2.08
Price-to-Free Cash Flow Ratio (TTM)	7.21	10.44