FRHC vs. MS: Freedom vs. Morgan Stanley Stock Comparison

November 11, 2026

How do Freedom (FRHC) and Morgan Stanley (MS) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Freedom (FRHC) and Morgan Stanley (MS) are both classified in the Investment Banking & Brokerage sub-industry within the broader Capital Markets industry, placing them in the closest GICS peer bucket.

Company profile comparison for Freedom (FRHC) and Morgan Stanley (MS)
Profile Item	FRHC	MS
Name	Freedom Holding Corp.	Morgan Stanley Common Stock
Country/Region	United States	United States
GICS Sector	Financials	Financials
GICS Industry Group	Financial Services	Financial Services
GICS Industry	Capital Markets	Capital Markets
GICS Sub-Industry	Investment Banking & Brokerage	Investment Banking & Brokerage
Market Capitalization	11.41 billion USD	283.60 billion USD
Currency	USD	USD
Exchange	Nasdaq	NYSE
Listing Date	February 7, 2018	February 23, 1993
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

FRHC

GSPC

Freedom (FRHC) vs. Morgan Stanley (MS), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Freedom (FRHC) and Morgan Stanley (MS). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Freedom (FRHC) and Morgan Stanley (MS). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Freedom (FRHC) and Morgan Stanley (MS)
Metric	FRHC	MS
Total Return (1Y)	18.04%	19.44%
Total Return (3Y, Annualized)	28.04%	40.69%
Total Return (5Y, Annualized)	18.95%	17.38%

Risk Profile

Drawdown History

FRHC

GSPC

Freedom (FRHC) vs. Morgan Stanley (MS), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Freedom (FRHC) and Morgan Stanley (MS). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Freedom (FRHC) and Morgan Stanley (MS)
Metric	FRHC	MS
Volatility (1Y, Annualized)	47.01%	29.73%
Beta (5Y)	0.71	1.21
Max Drawdown (5Y)	-45.80%	-32.38%
Avg. Volume (3M)	108.35K	5.37M

Risk-Adjusted Performance

Risk-Return Positioning

FRHC and MS are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Freedom (FRHC) and Morgan Stanley (MS)
Metric	FRHC	MS
Sharpe Ratio (1Y)	0.29	0.51
Sortino Ratio (1Y)	0.45	0.73

Profitability

ROE (TTM)

Both Freedom (FRHC) at 10.68% and Morgan Stanley (MS) at 18.04% land near their industries’ usual ROE ranges, so capital efficiency looks broadly in line with peers on both sides.

FRHC

Financial Services industry group

10.68%

Max: 44.78%
Q3: 21.85%
Median: 12.91%
FRHC: 10.68%
Q1: 4.48%
Min: -18.71%

MS

Financial Services industry group

18.04%

Max: 44.78%
Q3: 21.85%
MS: 18.04%
Median: 12.91%
Q1: 4.48%
Min: -18.71%

Freedom (FRHC) vs. Morgan Stanley (MS): A comparison of their ROE against the Financial Services industry group benchmark.

Net Margin (TTM)

Both Freedom (FRHC) at 8.43% and Morgan Stanley (MS) at 25.63% keep about the typical share of revenue as profit for their industries — neither bottom line stands out from peers.

FRHC

Financial Services industry group

8.43%

Max: 62.84%
Q3: 28.05%
Median: 15.36%
FRHC: 8.43%
Q1: 4.82%
Min: -28.52%

MS

Financial Services industry group

25.63%

Max: 62.84%
Q3: 28.05%
MS: 25.63%
Median: 15.36%
Q1: 4.82%
Min: -28.52%

Freedom (FRHC) vs. Morgan Stanley (MS): A comparison of their net margin against the Financial Services industry group benchmark.

Operating Margin (TTM)

Morgan Stanley (MS) at 39.00% runs core operations around its industry’s norm, while Freedom (FRHC) at 5.01% operates in the bottom quartile.

FRHC

Financial Services industry group

5.01%

Max: 107.33%
Q3: 55.90%
Median: 30.09%
Q1: 14.60%
FRHC: 5.01%
Min: -44.34%

MS

Financial Services industry group

39.00%

Max: 107.33%
Q3: 55.90%
MS: 39.00%
Median: 30.09%
Q1: 14.60%
Min: -44.34%

Freedom (FRHC) vs. Morgan Stanley (MS): A comparison of their operating margin against the Financial Services industry group benchmark.

Profitability Metrics

Profitability metrics for Freedom (FRHC) and Morgan Stanley (MS)
Metric	FRHC	MS
ROE (TTM)	10.68%	18.04%
ROA (TTM)	1.24%	1.35%
Net Margin (TTM)	8.43%	25.63%
Operating Margin (TTM)	5.01%	39.00%
Gross Margin (TTM)	--	--

Growth

Revenue Growth

Both Freedom (FRHC) at 8.97% and Morgan Stanley (MS) at 14.48% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

Freedom (FRHC) vs. Morgan Stanley (MS): A comparison of their Revenue Growth across different time periods.

EPS Growth

Freedom (FRHC) at 98.93% sits in the top EPS growth quartile, while Morgan Stanley (MS) at 28.43% is closer to the peer norm — faster per-share earnings growth for FRHC.

Freedom (FRHC) vs. Morgan Stanley (MS): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Freedom (FRHC) and Morgan Stanley (MS)
Metric	FRHC	MS
Revenue Growth (YoY)	8.97%	14.48%
Revenue Growth (3Y CAGR)	39.61%	9.52%
EPS Growth (YoY)	98.93%	28.43%
EPS Growth (3Y CAGR)	-10.08%	18.41%

Financial Strength

Current Ratio (MRQ)

current ratio doesn’t apply on either side: Freedom (FRHC) in Financial Services and Morgan Stanley (MS) in Financial Services both report balance sheets without a current/non-current split, so their short-term liquidity is better judged through regulatory and funding measures.

Debt / Equity (MRQ)

debt-to-equity ratio is set aside for both: Freedom (FRHC) in Financial Services and Morgan Stanley (MS) in Financial Services run businesses where balance-sheet leverage is part of the model, so capital-adequacy and funding measures are the better gauges of balance-sheet risk.

Financial Strength Metrics

Financial strength metrics for Freedom (FRHC) and Morgan Stanley (MS)
Metric	FRHC	MS
Current Ratio (MRQ)	--	--
Debt / Equity (MRQ)	--	--
Net Debt / EBITDA	--	--

Dividends

Dividend Yield (TTM)

Freedom (FRHC) pays no dividend (yield 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Morgan Stanley (MS) reports a yield of 2.40%, ranking against industry peers normally.

FRHC

Financial Services industry group

0.00%

Max: 9.77%
Q3: 3.92%
Median: 1.09%
FRHC: 0.00%
Q1: 0.00%
Min: 0.00%

MS

Financial Services industry group

2.40%

Max: 9.77%
Q3: 3.92%
MS: 2.40%
Median: 1.09%
Q1: 0.00%
Min: 0.00%

Freedom (FRHC) vs. Morgan Stanley (MS): A comparison of their dividend yield against the Financial Services industry group benchmark.

Dividend Payout Ratio (TTM)

Freedom (FRHC) pays no dividend (payout 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Morgan Stanley (MS) reports a payout of 32.91%, ranking against industry peers normally.

FRHC

Financial Services industry group

0.00%

Max: 241.07%
Q3: 97.36%
Median: 25.77%
FRHC: 0.00%
Q1: 0.00%
Min: 0.00%

MS

Financial Services industry group

32.91%

Max: 241.07%
Q3: 97.36%
MS: 32.91%
Median: 25.77%
Q1: 0.00%
Min: 0.00%

Freedom (FRHC) vs. Morgan Stanley (MS): A comparison of their payout ratio against the Financial Services industry group benchmark.

Dividend Metrics

Dividend metrics for Freedom (FRHC) and Morgan Stanley (MS)
Metric	FRHC	MS
Dividend Yield (TTM)	0.00%	2.40%
Dividend Payout Ratio (TTM)	0.00%	32.91%

Valuation

P/E Ratio (TTM)

Morgan Stanley (MS) at 14.39 is near its industry’s usual P/E ratio, while Freedom (FRHC) at 70.97 sits above its peer range — an unusually expensive price for FRHC’s trailing earnings.

FRHC

Financial Services industry group

70.97

FRHC: 70.97
Max: 45.85
Q3: 24.64
Median: 15.37
Q1: 9.68
Min: 0.16

MS

Financial Services industry group

14.39

Max: 45.85
Q3: 24.64
Median: 15.37
MS: 14.39
Q1: 9.68
Min: 0.16

Freedom (FRHC) vs. Morgan Stanley (MS): A comparison of their P/E ratio against the Financial Services industry group benchmark.

P/S Ratio (TTM)

Morgan Stanley (MS) at 3.55 is priced about in line with its industry on P/S ratio, while Freedom (FRHC) at 6.51 sits in the pricier quartile — FRHC costs more per dollar of sales.

FRHC

Financial Services industry group

6.51

Max: 9.23
FRHC: 6.51
Q3: 4.57
Median: 2.72
Q1: 1.28
Min: -0.55

MS

Financial Services industry group

3.55

Max: 9.23
Q3: 4.57
MS: 3.55
Median: 2.72
Q1: 1.28
Min: -0.55

Freedom (FRHC) vs. Morgan Stanley (MS): A comparison of their P/S ratio against the Financial Services industry group benchmark.

P/B Ratio (MRQ)

Morgan Stanley (MS) at 2.65 is valued about in line with its industry on P/B ratio, while Freedom (FRHC) at 7.16 carries an above-peer premium to book — FRHC is pricier on assets.

FRHC

Financial Services industry group

7.16

Max: 7.79
FRHC: 7.16
Q3: 3.63
Median: 1.57
Q1: 0.81
Min: -0.39

MS

Financial Services industry group

2.65

Max: 7.79
Q3: 3.63
MS: 2.65
Median: 1.57
Q1: 0.81
Min: -0.39

Freedom (FRHC) vs. Morgan Stanley (MS): A comparison of their P/B ratio against the Financial Services industry group benchmark.

Valuation Metrics

Valuation metrics for Freedom (FRHC) and Morgan Stanley (MS)
Metric	FRHC	MS
P/E Ratio (TTM)	70.97	14.39
P/S Ratio (TTM)	6.51	3.55
P/B Ratio (MRQ)	7.16	2.65
Free Cash Flow Yield (TTM)	--	--