GS vs. MS: Goldman Sachs vs. Morgan Stanley Stock Comparison
How do Goldman Sachs (GS) 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
Goldman Sachs (GS) 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.
| Profile Item | GS | MS |
|---|---|---|
| Name | The Goldman Sachs Group, Inc. | Morgan Stanley |
| 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 | 298.36 billion USD | 329.72 billion USD |
| Currency | USD | USD |
| Exchange | NYSE | NYSE |
| Listing Date | May 4, 1999 | February 23, 1993 |
| Security Type | Common Stock | Common Stock |
Price Performance
Cumulative Growth
Trailing Returns
Performance Metrics
| Metric | GS | MS |
|---|---|---|
| Total Return (1Y) | 45.78% | 51.98% |
Risk Profile
Drawdown History
Risk Metrics
| Metric | GS | MS |
|---|---|---|
| Volatility (1Y, Annualized) | 28.65% | 26.37% |
| Beta (5Y) | 1.30 | 1.23 |
| Avg. Volume (3M) | 2.17M | 6.00M |
Risk-Adjusted Performance
Risk-Return Positioning
Profitability
ROE (TTM)
Both Goldman Sachs (GS) at 14.55% and Morgan Stanley (MS) at 16.39% land near their industries’ usual ROE ranges, so capital efficiency looks broadly in line with peers on both sides.
GS
Financial Services industry group
14.55%
- Max
- 42.17%
- Q3
- 21.42%
- GS
- 14.55%
- Median
- 12.17%
- Q1
- 5.00%
- Min
- -17.69%
MS
Financial Services industry group
16.39%
- Max
- 42.17%
- Q3
- 21.42%
- MS
- 16.39%
- Median
- 12.17%
- Q1
- 5.00%
- Min
- -17.69%
Net Margin (TTM)
Both Goldman Sachs (GS) at 29.36% and Morgan Stanley (MS) at 24.75% keep about the typical share of revenue as profit for their industries — neither bottom line stands out from peers.
GS
Financial Services industry group
29.36%
- Max
- 66.55%
- Q3
- 30.43%
- GS
- 29.36%
- Median
- 16.62%
- Q1
- 4.47%
- Min
- -26.88%
MS
Financial Services industry group
24.75%
- Max
- 66.55%
- Q3
- 30.43%
- MS
- 24.75%
- Median
- 16.62%
- Q1
- 4.47%
- Min
- -26.88%
Operating Margin (TTM)
Both Goldman Sachs (GS) at 38.60% and Morgan Stanley (MS) at 40.62% run core operations about as efficiently as their industries’ norm — neither stands out on operating profitability.
GS
Financial Services industry group
38.60%
- Max
- 95.95%
- Q3
- 50.35%
- GS
- 38.60%
- Median
- 26.49%
- Q1
- 11.62%
- Min
- -36.26%
MS
Financial Services industry group
40.62%
- Max
- 95.95%
- Q3
- 50.35%
- MS
- 40.62%
- Median
- 26.49%
- Q1
- 11.62%
- Min
- -36.26%
Profitability Metrics
| Metric | GS | MS |
|---|---|---|
| ROE (TTM) | 14.55% | 16.39% |
| ROA (TTM) | 0.94% | 1.27% |
| Net Margin (TTM) | 29.36% | 24.75% |
| Operating Margin (TTM) | 38.60% | 40.62% |
| Gross Margin (TTM) | -- | -- |
Growth
Revenue Growth
Revenue Growth Metrics
| Metric | GS | MS |
|---|---|---|
| Revenue Growth (YoY) | 8.92% | 14.48% |
| Revenue Growth (3Y CAGR) | 7.16% | 9.52% |
EPS Growth
EPS Growth Metrics
| Metric | GS | MS |
|---|---|---|
| EPS Growth (YoY) | 26.59% | 28.43% |
| EPS Growth (3Y CAGR) | 19.52% | 18.41% |
Financial Strength
Current Ratio (MRQ)
current ratio doesn’t apply on either side: Goldman Sachs (GS) 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: Goldman Sachs (GS) 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
| Metric | GS | MS |
|---|---|---|
| Current Ratio (MRQ) | -- | -- |
| Debt / Equity (MRQ) | -- | -- |
| Net Debt / EBITDA | -- | -- |
Dividends
Dividend Yield (TTM)
Both Goldman Sachs (GS) at 1.52% and Morgan Stanley (MS) at 1.89% pay solid, industry-typical yields, sitting squarely within their peers’ usual range.
GS
Financial Services industry group
1.52%
- Max
- 20.96%
- Q3
- 8.69%
- Median
- 1.54%
- GS
- 1.52%
- Q1
- 0.00%
- Min
- 0.00%
MS
Financial Services industry group
1.89%
- Max
- 20.96%
- Q3
- 8.69%
- MS
- 1.89%
- Median
- 1.54%
- Q1
- 0.00%
- Min
- 0.00%
Dividend Payout Ratio (TTM)
Both Goldman Sachs (GS) at 28.31% and Morgan Stanley (MS) at 35.55% keep payout ratio within their industries’ typical mid-ranges — dividend policies that share earnings without consuming too much of them.
GS
Financial Services industry group
28.31%
- Max
- 228.57%
- Q3
- 95.23%
- GS
- 28.31%
- Median
- 24.86%
- Q1
- 0.00%
- Min
- 0.00%
MS
Financial Services industry group
35.55%
- Max
- 228.57%
- Q3
- 95.23%
- MS
- 35.55%
- Median
- 24.86%
- Q1
- 0.00%
- Min
- 0.00%
Dividend Metrics
| Metric | GS | MS |
|---|---|---|
| Dividend Yield (TTM) | 1.52% | 1.89% |
| Dividend Payout Ratio (TTM) | 28.31% | 35.55% |
Valuation
P/E Ratio (TTM)
Both Goldman Sachs (GS) at 18.46 and Morgan Stanley (MS) at 18.95 land around their industries’ usual P/E ratio levels — neither is getting a clear earnings-multiple discount or premium versus peers.
GS
Financial Services industry group
18.46
- Max
- 48.68
- Q3
- 25.25
- GS
- 18.46
- Median
- 14.81
- Q1
- 9.35
- Min
- 0.55
MS
Financial Services industry group
18.95
- Max
- 48.68
- Q3
- 25.25
- MS
- 18.95
- Median
- 14.81
- Q1
- 9.35
- Min
- 0.55
P/S Ratio (TTM)
Morgan Stanley (MS) at 4.51 is priced about in line with its industry on P/S ratio, while Goldman Sachs (GS) at 4.85 sits in the pricier quartile — GS costs more per dollar of sales.
GS
Financial Services industry group
4.85
- Max
- 9.70
- GS
- 4.85
- Q3
- 4.78
- Median
- 2.89
- Q1
- 1.44
- Min
- -1.03
MS
Financial Services industry group
4.51
- Max
- 9.70
- Q3
- 4.78
- MS
- 4.51
- Median
- 2.89
- Q1
- 1.44
- Min
- -1.03
P/B Ratio (MRQ)
On P/B ratio, both Goldman Sachs (GS) at 2.84 and Morgan Stanley (MS) at 3.16 are valued close to their industries’ norm against book — neither stands out from peers.
GS
Financial Services industry group
2.84
- Max
- 7.22
- Q3
- 3.47
- GS
- 2.84
- Median
- 1.67
- Q1
- 0.91
- Min
- 0.00
MS
Financial Services industry group
3.16
- Max
- 7.22
- Q3
- 3.47
- MS
- 3.16
- Median
- 1.67
- Q1
- 0.91
- Min
- 0.00
Valuation Metrics
| Metric | GS | MS |
|---|---|---|
| P/E Ratio (TTM) | 18.46 | 18.95 |
| P/S Ratio (TTM) | 4.85 | 4.51 |
| P/B Ratio (MRQ) | 2.84 | 3.16 |
| Free Cash Flow Yield (TTM) | -- | -- |