MS vs. TOST: Morgan Stanley vs. Toast Stock Comparison
How do Morgan Stanley (MS) and Toast (TOST) 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 Toast (TOST) both fall under the Financial Services industry group, but MS is classified in Capital Markets while TOST is classified in Financial Services.
Morgan Stanley (MS) has more than two decades of public-market history since February 23, 1993, whereas Toast (TOST) listed on September 22, 2021 and has a much shorter record to draw on.
| Profile Item | MS | TOST |
|---|---|---|
| Name | Morgan Stanley Common Stock | Toast, Inc. Class A Common Stock |
| Country/Region | United States | United States |
| GICS Sector | Financials | Financials |
| GICS Industry Group | Financial Services | Financial Services |
| GICS Industry | Capital Markets | Financial Services |
| GICS Sub-Industry | Investment Banking & Brokerage | Transaction & Payment Processing Services |
| Market Capitalization | 283.60 billion USD | 20.14 billion USD |
| Currency | USD | USD |
| Exchange | NYSE | NYSE |
| Listing Date | February 23, 1993 | September 22, 2021 |
| Security Type | Common Stock | Common Stock |
Price Performance
Cumulative Growth
Trailing Returns
Calendar-Year Returns
Performance Metrics
| Metric | MS | TOST |
|---|---|---|
| Total Return (1Y) | 19.44% | -5.92% |
| Total Return (3Y, Annualized) | 40.69% | 35.73% |
| Total Return (5Y, Annualized) | 17.38% | -10.54% |
Risk Profile
Drawdown History
Return Distribution
Risk Metrics
| Metric | MS | TOST |
|---|---|---|
| Volatility (1Y, Annualized) | 29.73% | 45.32% |
| Beta (5Y) | 1.21 | 1.66 |
| Max Drawdown (5Y) | -32.38% | -79.13% |
| Avg. Volume (3M) | 5.37M | 8.73M |
Risk-Adjusted Performance
Risk-Return Positioning
Risk-Adjusted Metrics
| Metric | MS | TOST |
|---|---|---|
| Sharpe Ratio (1Y) | 0.51 | -0.23 |
| Sortino Ratio (1Y) | 0.73 | -0.31 |
Profitability
ROE (TTM)
Toast (TOST) at 25.58% sits in the top ROE quartile, while Morgan Stanley (MS) at 18.04% is closer to the peer norm — stronger capital efficiency for TOST.
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%
TOST
Financial Services industry group
25.58%
- Max
- 44.78%
- TOST
- 25.58%
- Q3
- 21.85%
- Median
- 12.91%
- Q1
- 4.48%
- Min
- -18.71%
Net Margin (TTM)
Both Morgan Stanley (MS) at 25.63% and Toast (TOST) at 7.69% 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%
TOST
Financial Services industry group
7.69%
- Max
- 62.84%
- Q3
- 28.05%
- Median
- 15.36%
- TOST
- 7.69%
- Q1
- 4.82%
- Min
- -28.52%
Operating Margin (TTM)
Morgan Stanley (MS) at 39.00% runs core operations around its industry’s norm, while Toast (TOST) at 8.63% operates in the bottom quartile.
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%
TOST
Financial Services industry group
8.63%
- Max
- 107.33%
- Q3
- 55.90%
- Median
- 30.09%
- Q1
- 14.60%
- TOST
- 8.63%
- Min
- -44.34%
Profitability Metrics
| Metric | MS | TOST |
|---|---|---|
| ROE (TTM) | 18.04% | 25.58% |
| ROA (TTM) | 1.35% | 10.30% |
| Net Margin (TTM) | 25.63% | 7.69% |
| Operating Margin (TTM) | 39.00% | 8.63% |
| Gross Margin (TTM) | -- | -- |
Growth
Revenue Growth
Both Morgan Stanley (MS) at 14.48% and Toast (TOST) at 24.05% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.
EPS Growth
Toast (TOST) at 1,766.67% clears its industry range for EPS growth, a much stronger earnings trajectory than Morgan Stanley (MS) at 28.43%, which is closer to a typical peer reading.
Growth Metrics
| Metric | MS | TOST |
|---|---|---|
| Revenue Growth (YoY) | 14.48% | 24.05% |
| Revenue Growth (3Y CAGR) | 9.52% | 31.10% |
| EPS Growth (YoY) | 28.43% | 1,766.67% |
| EPS Growth (3Y CAGR) | 18.41% | -- |
Financial Strength
Current Ratio (MRQ)
current ratio doesn’t apply on either side: Morgan Stanley (MS) in Financial Services and Toast (TOST) 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 Toast (TOST) 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 | TOST |
|---|---|---|
| Current Ratio (MRQ) | -- | -- |
| Debt / Equity (MRQ) | -- | -- |
| Net Debt / EBITDA | -- | -- |
Dividends
Dividend Yield (TTM)
Toast (TOST) 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.
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%
TOST
Financial Services industry group
0.00%
- Max
- 9.77%
- Q3
- 3.92%
- Median
- 1.09%
- TOST
- 0.00%
- Q1
- 0.00%
- Min
- 0.00%
Dividend Payout Ratio (TTM)
Toast (TOST) 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.
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%
TOST
Financial Services industry group
0.00%
- Max
- 241.07%
- Q3
- 97.36%
- Median
- 25.77%
- TOST
- 0.00%
- Q1
- 0.00%
- Min
- 0.00%
Dividend Metrics
| Metric | MS | TOST |
|---|---|---|
| Dividend Yield (TTM) | 2.40% | 0.00% |
| Dividend Payout Ratio (TTM) | 32.91% | 0.00% |
Valuation
P/E Ratio (TTM)
Morgan Stanley (MS) at 14.39 is near its industry’s usual P/E ratio, while Toast (TOST) at 38.10 sits in the richer quartile — TOST needs stronger growth or earnings quality to justify the premium.
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
TOST
Financial Services industry group
38.10
- Max
- 45.85
- TOST
- 38.10
- Q3
- 24.64
- Median
- 15.37
- Q1
- 9.68
- Min
- 0.16
P/S Ratio (TTM)
On P/S ratio, both Morgan Stanley (MS) at 3.55 and Toast (TOST) at 2.82 are priced roughly in line with their industries — neither looks cheap nor rich on a sales basis.
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
TOST
Financial Services industry group
2.82
- Max
- 9.23
- Q3
- 4.57
- TOST
- 2.82
- Median
- 2.72
- Q1
- 1.28
- Min
- -0.55
P/B Ratio (MRQ)
Morgan Stanley (MS) at 2.65 sits near its industry’s typical P/B ratio, while Toast (TOST) at 8.79 prices above its benchmark range — TOST looks rich relative to book.
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
TOST
Financial Services industry group
8.79
- TOST
- 8.79
- Max
- 7.79
- Q3
- 3.63
- Median
- 1.57
- Q1
- 0.81
- Min
- -0.39
Valuation Metrics
| Metric | MS | TOST |
|---|---|---|
| P/E Ratio (TTM) | 14.39 | 38.10 |
| P/S Ratio (TTM) | 3.55 | 2.82 |
| P/B Ratio (MRQ) | 2.65 | 8.79 |
| Free Cash Flow Yield (TTM) | -- | -- |