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BLK vs MS
Revenue, margins, valuation, and 5-year total return — side by side.
Financial - Capital Markets
BLK vs MS — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | ||
|---|---|---|
| Industry | Asset Management | Financial - Capital Markets |
| Market Cap | $162.70B | $301.05B |
| Revenue (TTM) | $20.41B | $103.14B |
| Net Income (TTM) | $6.10B | $16.18B |
| Gross Margin | 49.4% | 55.6% |
| Operating Margin | 37.1% | 17.1% |
| Forward P/E | 20.2x | 15.9x |
| Total Debt | $14.22B | $360.49B |
| Cash & Equiv. | $12.76B | $75.74B |
BLK vs MS — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| BlackRock, Inc. (BLK) | 100 | 203.1 | +103.1% |
| Morgan Stanley (MS) | 100 | 431.2 | +331.2% |
Price return only. Dividends and distributions are not included.
Quick Verdict: BLK vs MS
Each card shows where this stock fits in a portfolio — not just who wins on paper.
BLK is the clearest fit if your priority is income & stability and sleep-well-at-night.
- Dividend streak 15 yrs, beta 1.28, yield 2.0%
- Lower volatility, beta 1.28, Low D/E 28.8%, current ratio 16.40x
- Beta 1.28, yield 2.0%, current ratio 16.40x
MS carries the broadest edge in this set and is the clearest fit for growth exposure and long-term compounding.
- Rev growth 16.8%, EPS growth 53.5%
- 7.3% 10Y total return vs BLK's 243.2%
- PEG 1.79 vs BLK's 2.49
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | 16.8% NII/revenue growth vs BLK's 14.3% | |
| Value | Lower P/E (15.9x vs 20.2x), PEG 1.79 vs 2.49 | |
| Quality / Margins | Efficiency ratio 0.1% vs MS's 0.4% (lower = leaner) | |
| Stability / Safety | Beta 1.28 vs MS's 1.37, lower leverage | |
| Dividends | 2.0% yield, 11-year raise streak, vs BLK's 2.0% | |
| Momentum (1Y) | +61.5% vs BLK's +16.3% | |
| Efficiency (ROA) | Efficiency ratio 0.1% vs MS's 0.4% |
BLK vs MS — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
BLK vs MS — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
Income & Cash Flow (Last 12 Months)
BLK leads this category, winning 3 of 5 comparable metrics.
Income & Cash Flow (Last 12 Months)
MS is the larger business by revenue, generating $103.1B annually — 5.1x BLK's $20.4B. BLK is the more profitable business, keeping 31.2% of every revenue dollar as net income compared to MS's 13.0%.
| Metric | ||
|---|---|---|
| RevenueTrailing 12 months | $20.4B | $103.1B |
| EBITDAEarnings before interest/tax | $8.3B | $26.3B |
| Net IncomeAfter-tax profit | $6.1B | $16.2B |
| Free Cash FlowCash after capex | $3.9B | -$6.7B |
| Gross MarginGross profit ÷ Revenue | +49.4% | +55.6% |
| Operating MarginEBIT ÷ Revenue | +37.1% | +17.1% |
| Net MarginNet income ÷ Revenue | +31.2% | +13.0% |
| FCF MarginFCF ÷ Revenue | +23.0% | -2.0% |
| Rev. Growth (YoY)Latest quarter vs prior year | — | — |
| EPS Growth (YoY)Latest quarter vs prior year | -22.7% | +48.9% |
Valuation Metrics
MS leads this category, winning 5 of 6 comparable metrics.
Valuation Metrics
At 23.8x trailing earnings, MS trades at a 5% valuation discount to BLK's 25.0x P/E. Adjusting for growth (PEG ratio), MS offers better value at 2.67x vs BLK's 3.07x — a lower PEG means you pay less per unit of expected earnings growth.
| Metric | ||
|---|---|---|
| Market CapShares × price | $162.7B | $301.1B |
| Enterprise ValueMkt cap + debt − cash | $164.2B | $585.8B |
| Trailing P/EPrice ÷ TTM EPS | 24.97x | 23.80x |
| Forward P/EPrice ÷ next-FY EPS est. | 20.21x | 15.93x |
| PEG RatioP/E ÷ EPS growth rate | 3.07x | 2.67x |
| EV / EBITDAEnterprise value multiple | 20.26x | 25.74x |
| Price / SalesMarket cap ÷ Revenue | 7.97x | 2.92x |
| Price / BookPrice ÷ Book value/share | 3.22x | 2.89x |
| Price / FCFMarket cap ÷ FCF | 34.61x | — |
Profitability & Efficiency
BLK leads this category, winning 8 of 9 comparable metrics.
Profitability & Efficiency
MS delivers a 14.6% return on equity — every $100 of shareholder capital generates $15 in annual profit, vs $10 for BLK. BLK carries lower financial leverage with a 0.29x debt-to-equity ratio, signaling a more conservative balance sheet compared to MS's 3.42x. On the Piotroski fundamental quality scale (0–9), BLK scores 6/9 vs MS's 5/9, reflecting solid financial health.
| Metric | ||
|---|---|---|
| ROE (TTM)Return on equity | +9.9% | +14.6% |
| ROA (TTM)Return on assets | +3.7% | +1.2% |
| ROICReturn on invested capital | +9.9% | +2.9% |
| ROCEReturn on capital employed | +5.8% | +3.8% |
| Piotroski ScoreFundamental quality 0–9 | 6 | 5 |
| Debt / EquityFinancial leverage | 0.29x | 3.42x |
| Net DebtTotal debt minus cash | $1.5B | $284.7B |
| Cash & Equiv.Liquid assets | $12.8B | $75.7B |
| Total DebtShort + long-term debt | $14.2B | $360.5B |
| Interest CoverageEBIT ÷ Interest expense | 9.27x | 0.44x |
Total Returns (Dividends Reinvested)
MS leads this category, winning 6 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in MS five years ago would be worth $24,401 today (with dividends reinvested), compared to $13,486 for BLK. Over the past 12 months, MS leads with a +61.5% total return vs BLK's +16.3%. The 3-year compound annual growth rate (CAGR) favors MS at 33.1% vs BLK's 19.9% — a key indicator of consistent wealth creation.
| Metric | ||
|---|---|---|
| YTD ReturnYear-to-date | -2.8% | +5.1% |
| 1-Year ReturnPast 12 months | +16.3% | +61.5% |
| 3-Year ReturnCumulative with dividends | +72.4% | +136.0% |
| 5-Year ReturnCumulative with dividends | +34.9% | +144.0% |
| 10-Year ReturnCumulative with dividends | +243.2% | +726.4% |
| CAGR (3Y)Annualised 3-year return | +19.9% | +33.1% |
Risk & Volatility
Evenly matched — BLK and MS each lead in 1 of 2 comparable metrics.
Risk & Volatility
BLK is the less volatile stock with a 1.28 beta — it tends to amplify market swings less than MS's 1.37 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. MS currently trades 97.2% from its 52-week high vs BLK's 86.0% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | ||
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.28x | 1.37x |
| 52-Week HighHighest price in past year | $1219.94 | $194.59 |
| 52-Week LowLowest price in past year | $906.57 | $117.21 |
| % of 52W HighCurrent price vs 52-week peak | +86.0% | +97.2% |
| RSI (14)Momentum oscillator 0–100 | 56.4 | 59.7 |
| Avg Volume (50D)Average daily shares traded | 801K | 5.5M |
Analyst Outlook
Evenly matched — BLK and MS each lead in 1 of 2 comparable metrics.
Analyst Outlook
Wall Street rates BLK as "Buy" and MS as "Buy". Consensus price targets imply 25.1% upside for BLK (target: $1312) vs 8.7% for MS (target: $206). For income investors, MS offers the higher dividend yield at 2.01% vs BLK's 1.95%.
| Metric | ||
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $1311.78 | $205.75 |
| # AnalystsCovering analysts | 33 | 52 |
| Dividend YieldAnnual dividend ÷ price | +2.0% | +2.0% |
| Dividend StreakConsecutive years of raises | 15 | 11 |
| Dividend / ShareAnnual DPS | $20.46 | $3.81 |
| Buyback YieldShare repurchases ÷ mkt cap | +1.2% | +1.4% |
BLK leads in 2 of 6 categories (Income & Cash Flow, Profitability & Efficiency). MS leads in 2 (Valuation Metrics, Total Returns). 2 tied.
BLK vs MS: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is BLK or MS a better buy right now?
For growth investors, Morgan Stanley (MS) is the stronger pick with 16.
8% revenue growth year-over-year, versus 14. 3% for BlackRock, Inc. (BLK). Morgan Stanley (MS) offers the better valuation at 23. 8x trailing P/E (15. 9x forward), making it the more compelling value choice. Analysts rate BlackRock, Inc. (BLK) a "Buy" — based on 33 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — BLK or MS?
On trailing P/E, Morgan Stanley (MS) is the cheapest at 23.
8x versus BlackRock, Inc. at 25. 0x. On forward P/E, Morgan Stanley is actually cheaper at 15. 9x. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: Morgan Stanley wins at 1. 79x versus BlackRock, Inc. 's 2. 49x — a reasonable growth-adjusted valuation.
03Which is the better long-term investment — BLK or MS?
Over the past 5 years, Morgan Stanley (MS) delivered a total return of +144.
0%, compared to +34. 9% for BlackRock, Inc. (BLK). Over 10 years, the gap is even starker: MS returned +726. 4% versus BLK's +246. 4%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — BLK or MS?
By beta (market sensitivity over 5 years), BlackRock, Inc.
(BLK) is the lower-risk stock at 1. 28β versus Morgan Stanley's 1. 37β — meaning MS is approximately 7% more volatile than BLK relative to the S&P 500. On balance sheet safety, BlackRock, Inc. (BLK) carries a lower debt/equity ratio of 29% versus 3% for Morgan Stanley — giving it more financial flexibility in a downturn.
05Which is growing faster — BLK or MS?
By revenue growth (latest reported year), Morgan Stanley (MS) is pulling ahead at 16.
8% versus 14. 3% for BlackRock, Inc. (BLK). On earnings-per-share growth, the picture is similar: Morgan Stanley grew EPS 53. 5% year-over-year, compared to 15. 1% for BlackRock, Inc.. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — BLK or MS?
BlackRock, Inc.
(BLK) is the more profitable company, earning 31. 2% net margin versus 13. 0% for Morgan Stanley — meaning it keeps 31. 2% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: BLK leads at 37. 1% versus 17. 1% for MS. At the gross margin level — before operating expenses — MS leads at 55. 6%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is BLK or MS more undervalued right now?
The PEG ratio (forward P/E divided by expected earnings growth rate) is the most precise measure of undervaluation relative to growth potential.
By this metric, Morgan Stanley (MS) is the more undervalued stock at a PEG of 1. 79x versus BlackRock, Inc. 's 2. 49x. Both stocks trade at elevated growth-adjusted valuations, so expected growth needs to materialise. On forward earnings alone, Morgan Stanley (MS) trades at 15. 9x forward P/E versus 20. 2x for BlackRock, Inc. — 4. 3x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for BLK: 25. 1% to $1311. 78.
08Which pays a better dividend — BLK or MS?
All stocks in this comparison pay dividends.
Morgan Stanley (MS) offers the highest yield at 2. 0%, versus 2. 0% for BlackRock, Inc. (BLK).
09Is BLK or MS better for a retirement portfolio?
For long-horizon retirement investors, Morgan Stanley (MS) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (2.
0% yield, +726. 4% 10Y return). Both have compounded well over 10 years (MS: +726. 4%, BLK: +246. 4%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between BLK and MS?
Both stocks operate in the Financial Services sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
In terms of investment character: BLK is a mid-cap quality compounder stock; MS is a large-cap high-growth stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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