MS vs. NMR: Morgan Stanley vs. Nomura Stock Comparison
How do Morgan Stanley (MS) and Nomura (NMR) 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
Morgan Stanley (MS) and Nomura (NMR) are both classified in the Investment Banking & Brokerage sub-industry within the broader Capital Markets industry, placing them in the closest GICS peer bucket.
Morgan Stanley (MS) trades as ordinary local shares, while Nomura (NMR) trades as an ADR — compare with FX exposure, depositary-program fees, and dividend-withholding-tax differences in mind.
| Profile Item | MS | NMR |
|---|---|---|
| Name | Morgan Stanley Common Stock | Nomura Holdings, Inc. Sponsored ADR |
| Country/Region | United States | Japan |
| 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 | 283.60 billion USD | 27.53 billion USD |
| Currency | USD | USD |
| Exchange | NYSE | NYSE |
| Listing Date | February 23, 1993 | December 17, 2001 |
| Security Type | Common Stock | ADR |
Price Performance
Cumulative Growth
Trailing Returns
Calendar-Year Returns
Performance Metrics
| Metric | MS | NMR |
|---|---|---|
| Total Return (1Y) | 19.44% | 35.42% |
| Total Return (3Y, Annualized) | 40.69% | 37.86% |
| Total Return (5Y, Annualized) | 17.38% | 18.78% |
Risk Profile
Drawdown History
Return Distribution
Risk Metrics
| Metric | MS | NMR |
|---|---|---|
| Volatility (1Y, Annualized) | 29.73% | 29.52% |
| Beta (5Y) | 1.21 | 0.79 |
| Max Drawdown (5Y) | -32.38% | -38.40% |
| Avg. Volume (3M) | 5.37M | 789.26K |
Risk-Adjusted Performance
Risk-Return Positioning
Risk-Adjusted Metrics
| Metric | MS | NMR |
|---|---|---|
| Sharpe Ratio (1Y) | 0.51 | 1.06 |
| Sortino Ratio (1Y) | 0.73 | 1.55 |
Profitability
ROE (TTM)
Both Morgan Stanley (MS) at 18.04% and Nomura (NMR) at 11.51% land near their industries’ usual ROE ranges, so capital efficiency looks broadly in line with peers on both sides.
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%
NMR
Financial Services industry group
11.51%
- Max
- 44.78%
- Q3
- 21.85%
- Median
- 12.91%
- NMR
- 11.51%
- Q1
- 4.48%
- Min
- -18.71%
Net Margin (TTM)
Both Morgan Stanley (MS) at 25.63% and Nomura (NMR) at 17.12% keep about the typical share of revenue as profit for their industries — neither bottom line stands out from peers.
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%
NMR
Financial Services industry group
17.12%
- Max
- 62.84%
- Q3
- 28.05%
- NMR
- 17.12%
- Median
- 15.36%
- Q1
- 4.82%
- Min
- -28.52%
Operating Margin (TTM)
Both Morgan Stanley (MS) at 39.00% and Nomura (NMR) at 24.36% run core operations about as efficiently as their industries’ norm — neither stands out on operating profitability.
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%
NMR
Financial Services industry group
24.36%
- Max
- 107.33%
- Q3
- 55.90%
- Median
- 30.09%
- NMR
- 24.36%
- Q1
- 14.60%
- Min
- -44.34%
Profitability Metrics
| Metric | MS | NMR |
|---|---|---|
| ROE (TTM) | 18.04% | 11.51% |
| ROA (TTM) | 1.35% | 0.68% |
| Net Margin (TTM) | 25.63% | 17.12% |
| Operating Margin (TTM) | 39.00% | 24.36% |
| Gross Margin (TTM) | -- | -- |
Growth
Revenue Growth
Both Morgan Stanley (MS) at 14.48% and Nomura (NMR) at 10.80% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.
EPS Growth
Both Morgan Stanley (MS) at 28.43% and Nomura (NMR) at 7.17% land near their industries' usual EPS growth ranges, so bottom-line momentum looks broadly in line with peers on both sides.
Growth Metrics
| Metric | MS | NMR |
|---|---|---|
| Revenue Growth (YoY) | 14.48% | 10.80% |
| Revenue Growth (3Y CAGR) | 9.52% | 17.17% |
| EPS Growth (YoY) | 28.43% | 7.17% |
| EPS Growth (3Y CAGR) | 18.41% | 58.75% |
Financial Strength
Current Ratio (MRQ)
current ratio doesn’t apply on either side: Morgan Stanley (MS) in Financial Services and Nomura (NMR) 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: Morgan Stanley (MS) in Financial Services and Nomura (NMR) 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 | MS | NMR |
|---|---|---|
| Current Ratio (MRQ) | -- | -- |
| Debt / Equity (MRQ) | -- | -- |
| Net Debt / EBITDA | -- | -- |
Dividends
Dividend Yield (TTM)
Morgan Stanley (MS) at 2.40% pays an industry-typical yield; Nomura (NMR) at 620.40% is above its entire peer range — the higher number, but one that calls for a look at payout sustainability before treating it as an advantage.
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%
NMR
Financial Services industry group
620.40%
- NMR
- 620.40%
- Max
- 9.77%
- Q3
- 3.92%
- Median
- 1.09%
- Q1
- 0.00%
- Min
- 0.00%
Dividend Payout Ratio (TTM)
Both Morgan Stanley (MS) at 32.91% and Nomura (NMR) at 16.85% keep payout ratio within their industries’ typical mid-ranges — dividend policies that share earnings without consuming too much of them.
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%
NMR
Financial Services industry group
16.85%
- Max
- 241.07%
- Q3
- 97.36%
- Median
- 25.77%
- NMR
- 16.85%
- Q1
- 0.00%
- Min
- 0.00%
Dividend Metrics
| Metric | MS | NMR |
|---|---|---|
| Dividend Yield (TTM) | 2.40% | 620.40% |
| Dividend Payout Ratio (TTM) | 32.91% | 16.85% |
Valuation
P/E Ratio (TTM)
Both Morgan Stanley (MS) at 14.39 and Nomura (NMR) at 10.83 land around their industries’ usual P/E ratio levels — neither is getting a clear earnings-multiple discount or premium versus peers.
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
NMR
Financial Services industry group
10.83
- Max
- 45.85
- Q3
- 24.64
- Median
- 15.37
- NMR
- 10.83
- Q1
- 9.68
- Min
- 0.16
P/S Ratio (TTM)
Nomura (NMR) at 0.01 sits in the cheaper P/S ratio quartile while Morgan Stanley (MS) at 3.55 prices around its industry’s middle — NMR costs less per dollar of sales, though read it alongside growth and margins.
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
NMR
Financial Services industry group
0.01
- Max
- 9.23
- Q3
- 4.57
- Median
- 2.72
- Q1
- 1.28
- NMR
- 0.01
- Min
- -0.55
P/B Ratio (MRQ)
On P/B ratio, both Morgan Stanley (MS) at 2.65 and Nomura (NMR) at 1.15 are valued close to their industries’ norm against book — neither stands out from peers.
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
NMR
Financial Services industry group
1.15
- Max
- 7.79
- Q3
- 3.63
- Median
- 1.57
- NMR
- 1.15
- Q1
- 0.81
- Min
- -0.39
Valuation Metrics
| Metric | MS | NMR |
|---|---|---|
| P/E Ratio (TTM) | 14.39 | 10.83 |
| P/S Ratio (TTM) | 3.55 | 0.01 |
| P/B Ratio (MRQ) | 2.65 | 1.15 |
| Free Cash Flow Yield (TTM) | -- | -- |