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JEF vs. MS: Jefferies vs. Morgan Stanley Stock Comparison

How do Jefferies (JEF) 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

Jefferies (JEF) 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 Jefferies (JEF) and Morgan Stanley (MS)
Profile ItemJEFMS
NameJefferies Financial Group Inc.Morgan Stanley Common Stock
Country/RegionUnited StatesUnited States
GICS SectorFinancialsFinancials
GICS Industry GroupFinancial ServicesFinancial Services
GICS IndustryCapital MarketsCapital Markets
GICS Sub-IndustryInvestment Banking & BrokerageInvestment Banking & Brokerage
Market Capitalization10.88 billion USD283.60 billion USD
CurrencyUSDUSD
ExchangeNYSENYSE
Listing DateMarch 17, 1980February 23, 1993
Security TypeCommon StockCommon Stock

Price Performance

Cumulative Growth

JEF
MS
GSPC
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Jefferies (JEF) 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 Jefferies (JEF) and Morgan Stanley (MS). Returns over one year are annualized.

Calendar-Year Returns

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

Performance Metrics

Price performance metrics for Jefferies (JEF) and Morgan Stanley (MS)
MetricJEFMS
Total Return (1Y)-6.26%19.44%
Total Return (3Y, Annualized)17.02%40.69%
Total Return (5Y, Annualized)7.20%17.38%

Risk Profile

Drawdown History

JEF
MS
GSPC
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Jefferies (JEF) 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 Jefferies (JEF) and Morgan Stanley (MS). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Jefferies (JEF) and Morgan Stanley (MS)
MetricJEFMS
Volatility (1Y, Annualized)41.25%29.73%
Beta (5Y)1.491.21
Max Drawdown (5Y)-54.39%-32.38%
Avg. Volume (3M)2.20M5.37M

Risk-Adjusted Performance

Risk-Return Positioning

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JEF 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 Jefferies (JEF) and Morgan Stanley (MS)
MetricJEFMS
Sharpe Ratio (1Y)-0.260.51
Sortino Ratio (1Y)-0.330.73

Profitability

ROE (TTM)

Both Jefferies (JEF) at 8.59% 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.

JEF

Financial Services industry group

8.59%

Max
44.78%
Q3
21.85%
Median
12.91%
JEF
8.59%
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%
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Jefferies (JEF) vs. Morgan Stanley (MS): A comparison of their ROE against the Financial Services industry group benchmark.

Net Margin (TTM)

Both Jefferies (JEF) at 11.00% 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.

JEF

Financial Services industry group

11.00%

Max
62.84%
Q3
28.05%
Median
15.36%
JEF
11.00%
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%
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Jefferies (JEF) vs. Morgan Stanley (MS): A comparison of their net margin against the Financial Services industry group benchmark.

Operating Margin (TTM)

Both Jefferies (JEF) at 15.80% and Morgan Stanley (MS) at 39.00% run core operations about as efficiently as their industries’ norm — neither stands out on operating profitability.

JEF

Financial Services industry group

15.80%

Max
107.33%
Q3
55.90%
Median
30.09%
JEF
15.80%
Q1
14.60%
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%
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Jefferies (JEF) vs. Morgan Stanley (MS): A comparison of their operating margin against the Financial Services industry group benchmark.

Profitability Metrics

Profitability metrics for Jefferies (JEF) and Morgan Stanley (MS)
MetricJEFMS
ROE (TTM)8.59%18.04%
ROA (TTM)1.21%1.35%
Net Margin (TTM)11.00%25.63%
Operating Margin (TTM)15.80%39.00%
Gross Margin (TTM)----

Growth

Revenue Growth

Both Jefferies (JEF) at 2.93% 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.

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

EPS Growth

Both Jefferies (JEF) at -5.35% and Morgan Stanley (MS) at 28.43% land near their industries' usual EPS growth ranges, so bottom-line momentum looks broadly in line with peers on both sides.

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

Growth Metrics

Growth metrics for Jefferies (JEF) and Morgan Stanley (MS)
MetricJEFMS
Revenue Growth (YoY)2.93%14.48%
Revenue Growth (3Y CAGR)14.83%9.52%
EPS Growth (YoY)-5.35%28.43%
EPS Growth (3Y CAGR)-2.57%18.41%

Financial Strength

Current Ratio (MRQ)

current ratio doesn’t apply on either side: Jefferies (JEF) 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: Jefferies (JEF) 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 Jefferies (JEF) and Morgan Stanley (MS)
MetricJEFMS
Current Ratio (MRQ)----
Debt / Equity (MRQ)----
Net Debt / EBITDA----

Dividends

Dividend Yield (TTM)

Both Jefferies (JEF) at 3.29% and Morgan Stanley (MS) at 2.40% pay solid, industry-typical yields, sitting squarely within their peers’ usual range.

JEF

Financial Services industry group

3.29%

Max
9.77%
Q3
3.92%
JEF
3.29%
Median
1.09%
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%
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Jefferies (JEF) vs. Morgan Stanley (MS): A comparison of their dividend yield against the Financial Services industry group benchmark.

Dividend Payout Ratio (TTM)

Both Jefferies (JEF) at 42.67% and Morgan Stanley (MS) at 32.91% keep payout ratio within their industries’ typical mid-ranges — dividend policies that share earnings without consuming too much of them.

JEF

Financial Services industry group

42.67%

Max
241.07%
Q3
97.36%
JEF
42.67%
Median
25.77%
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%
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Jefferies (JEF) vs. Morgan Stanley (MS): A comparison of their payout ratio against the Financial Services industry group benchmark.

Dividend Metrics

Dividend metrics for Jefferies (JEF) and Morgan Stanley (MS)
MetricJEFMS
Dividend Yield (TTM)3.29%2.40%
Dividend Payout Ratio (TTM)42.67%32.91%

Valuation

P/E Ratio (TTM)

Both Jefferies (JEF) at 12.63 and Morgan Stanley (MS) at 14.39 land around their industries’ usual P/E ratio levels — neither is getting a clear earnings-multiple discount or premium versus peers.

JEF

Financial Services industry group

12.63

Max
45.85
Q3
24.64
Median
15.37
JEF
12.63
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
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Jefferies (JEF) vs. Morgan Stanley (MS): A comparison of their P/E ratio against the Financial Services industry group benchmark.

P/S Ratio (TTM)

On P/S ratio, both Jefferies (JEF) at 1.28 and Morgan Stanley (MS) at 3.55 are priced roughly in line with their industries — neither looks cheap nor rich on a sales basis.

JEF

Financial Services industry group

1.28

Max
9.23
Q3
4.57
Median
2.72
JEF
1.28
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
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Jefferies (JEF) vs. Morgan Stanley (MS): A comparison of their P/S ratio against the Financial Services industry group benchmark.

P/B Ratio (MRQ)

On P/B ratio, both Jefferies (JEF) at 1.02 and Morgan Stanley (MS) at 2.65 are valued close to their industries’ norm against book — neither stands out from peers.

JEF

Financial Services industry group

1.02

Max
7.79
Q3
3.63
Median
1.57
JEF
1.02
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
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Jefferies (JEF) vs. Morgan Stanley (MS): A comparison of their P/B ratio against the Financial Services industry group benchmark.

Valuation Metrics

Valuation metrics for Jefferies (JEF) and Morgan Stanley (MS)
MetricJEFMS
P/E Ratio (TTM)12.6314.39
P/S Ratio (TTM)1.283.55
P/B Ratio (MRQ)1.022.65
Free Cash Flow Yield (TTM)----