What growth is priced into MS? A reverse DCF
MORGAN STANLEY · $182.44 · as of 2026-11-06
REVENUE GROWTH THE PRICE IMPLIES
<-10% /yr · 5 years
If MS's revenue grows at this rate a year for five years, then slows over years 6–10, at today's 39.9% operating margin, its value discounted at 9% equals today's price.
Last reported year-on-year revenue growth: 10.8%
The discount rate is a choice, not a measurement
The headline uses the 10-year Treasury (4%) plus 5%. Require a different return, and the growth the price implies changes:
Discount rate 8%<-10%
Discount rate 9%<-10%← headline
Discount rate 10%<-10%
What went in
Revenue, trailing 12 months$79.79Bfilings
Operating margin39.9%filings
Shares1.565Bfilings
Net debt$-131.58Bfilings
Tax rate21%filings
Sales to capital3×default
This page describes what today's price is consistent with. It does not say whether the stock is cheap or expensive, and it is not investment advice. TreasureX is educational software.