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TPG vs MS
Revenue, margins, valuation, and 5-year total return — side by side.
Financial - Capital Markets
TPG vs MS — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | ||
|---|---|---|
| Industry | Asset Management | Financial - Capital Markets |
| Market Cap | $17.48B | $301.05B |
| Revenue (TTM) | $4.67B | $103.14B |
| Net Income (TTM) | $18M | $16.18B |
| Gross Margin | 96.9% | 55.6% |
| Operating Margin | 14.7% | 17.1% |
| Forward P/E | 16.5x | 15.9x |
| Total Debt | $1.72B | $360.49B |
| Cash & Equiv. | $826M | $75.74B |
TPG vs MS — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
| Stock | Jan 22 | May 26 | Return |
|---|---|---|---|
| TPG Inc. (TPG) | 100 | 135.9 | +35.9% |
| Morgan Stanley (MS) | 100 | 184.5 | +84.5% |
Price return only. Dividends and distributions are not included.
Quick Verdict: TPG vs MS
Each card shows where this stock fits in a portfolio — not just who wins on paper.
TPG is the clearest fit if your priority is growth exposure.
- Rev growth 77.9%, EPS growth 17.8%
- 77.9% NII/revenue growth vs MS's 16.8%
- 17.6% yield, 2-year raise streak, vs MS's 2.0%
MS carries the broadest edge in this set and is the clearest fit for income & stability and long-term compounding.
- Dividend streak 11 yrs, beta 1.37, yield 2.0%
- 7.3% 10Y total return vs TPG's 53.9%
- Lower volatility, beta 1.37, current ratio 0.66x
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | 77.9% NII/revenue growth vs MS's 16.8% | |
| Value | Lower P/E (15.9x vs 16.5x) | |
| Quality / Margins | Efficiency ratio 0.4% vs TPG's 0.8% (lower = leaner) | |
| Stability / Safety | Beta 1.37 vs TPG's 1.61 | |
| Dividends | 17.6% yield, 2-year raise streak, vs MS's 2.0% | |
| Momentum (1Y) | +61.5% vs TPG's +1.1% | |
| Efficiency (ROA) | Efficiency ratio 0.4% vs TPG's 0.8% |
TPG vs MS — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
TPG 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)
Evenly matched — TPG and MS each lead in 2 of 4 comparable metrics.
Income & Cash Flow (Last 12 Months)
MS is the larger business by revenue, generating $103.1B annually — 22.1x TPG's $4.7B. MS is the more profitable business, keeping 13.0% of every revenue dollar as net income compared to TPG's 4.0%.
| Metric | ||
|---|---|---|
| RevenueTrailing 12 months | $4.7B | $103.1B |
| EBITDAEarnings before interest/tax | $611M | $26.3B |
| Net IncomeAfter-tax profit | $18M | $16.2B |
| Free Cash FlowCash after capex | $972M | -$6.7B |
| Gross MarginGross profit ÷ Revenue | +96.9% | +55.6% |
| Operating MarginEBIT ÷ Revenue | +14.7% | +17.1% |
| Net MarginNet income ÷ Revenue | +4.0% | +13.0% |
| FCF MarginFCF ÷ Revenue | +21.5% | -2.0% |
| Rev. Growth (YoY)Latest quarter vs prior year | — | — |
| EPS Growth (YoY)Latest quarter vs prior year | — | +48.9% |
Valuation Metrics
MS leads this category, winning 3 of 5 comparable metrics.
Valuation Metrics
At 23.8x trailing earnings, MS trades at a 37% valuation discount to TPG's 37.7x P/E. On an enterprise value basis, TPG's 22.3x EV/EBITDA is more attractive than MS's 25.7x.
| Metric | ||
|---|---|---|
| Market CapShares × price | $17.5B | $301.1B |
| Enterprise ValueMkt cap + debt − cash | $18.4B | $585.8B |
| Trailing P/EPrice ÷ TTM EPS | 37.69x | 23.80x |
| Forward P/EPrice ÷ next-FY EPS est. | 16.47x | 15.93x |
| PEG RatioP/E ÷ EPS growth rate | — | 2.67x |
| EV / EBITDAEnterprise value multiple | 22.34x | 25.74x |
| Price / SalesMarket cap ÷ Revenue | 3.75x | 2.92x |
| Price / BookPrice ÷ Book value/share | 1.68x | 2.89x |
| Price / FCFMarket cap ÷ FCF | 17.42x | — |
Profitability & Efficiency
TPG leads this category, winning 7 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 $0 for TPG. TPG carries lower financial leverage with a 0.42x debt-to-equity ratio, signaling a more conservative balance sheet compared to MS's 3.42x. On the Piotroski fundamental quality scale (0–9), TPG scores 8/9 vs MS's 5/9, reflecting strong financial health.
| Metric | ||
|---|---|---|
| ROE (TTM)Return on equity | +0.4% | +14.6% |
| ROA (TTM)Return on assets | +0.1% | +1.2% |
| ROICReturn on invested capital | +9.3% | +2.9% |
| ROCEReturn on capital employed | +7.4% | +3.8% |
| Piotroski ScoreFundamental quality 0–9 | 8 | 5 |
| Debt / EquityFinancial leverage | 0.42x | 3.42x |
| Net DebtTotal debt minus cash | $896M | $284.7B |
| Cash & Equiv.Liquid assets | $826M | $75.7B |
| Total DebtShort + long-term debt | $1.7B | $360.5B |
| Interest CoverageEBIT ÷ Interest expense | 6.24x | 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 $15,394 for TPG. Over the past 12 months, MS leads with a +61.5% total return vs TPG's +1.1%. The 3-year compound annual growth rate (CAGR) favors MS at 33.1% vs TPG's 24.2% — a key indicator of consistent wealth creation.
| Metric | ||
|---|---|---|
| YTD ReturnYear-to-date | -29.7% | +5.1% |
| 1-Year ReturnPast 12 months | +1.1% | +61.5% |
| 3-Year ReturnCumulative with dividends | +91.4% | +136.0% |
| 5-Year ReturnCumulative with dividends | +53.9% | +144.0% |
| 10-Year ReturnCumulative with dividends | +53.9% | +726.4% |
| CAGR (3Y)Annualised 3-year return | +24.2% | +33.1% |
Risk & Volatility
MS leads this category, winning 2 of 2 comparable metrics.
Risk & Volatility
MS is the less volatile stock with a 1.37 beta — it tends to amplify market swings less than TPG's 1.61 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 TPG's 64.8% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | ||
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.61x | 1.37x |
| 52-Week HighHighest price in past year | $70.38 | $194.59 |
| 52-Week LowLowest price in past year | $36.95 | $117.21 |
| % of 52W HighCurrent price vs 52-week peak | +64.8% | +97.2% |
| RSI (14)Momentum oscillator 0–100 | 59.9 | 59.7 |
| Avg Volume (50D)Average daily shares traded | 3.3M | 5.5M |
Analyst Outlook
Evenly matched — TPG and MS each lead in 1 of 2 comparable metrics.
Analyst Outlook
Wall Street rates TPG as "Buy" and MS as "Buy". Consensus price targets imply 42.5% upside for TPG (target: $65) vs 8.7% for MS (target: $206). For income investors, TPG offers the higher dividend yield at 17.63% vs MS's 2.01%.
| Metric | ||
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $65.00 | $205.75 |
| # AnalystsCovering analysts | 17 | 52 |
| Dividend YieldAnnual dividend ÷ price | +17.6% | +2.0% |
| Dividend StreakConsecutive years of raises | 2 | 11 |
| Dividend / ShareAnnual DPS | $8.04 | $3.81 |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | +1.4% |
MS leads in 3 of 6 categories (Valuation Metrics, Total Returns). TPG leads in 1 (Profitability & Efficiency). 2 tied.
TPG vs MS: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is TPG or MS a better buy right now?
For growth investors, TPG Inc.
(TPG) is the stronger pick with 77. 9% revenue growth year-over-year, versus 16. 8% for Morgan Stanley (MS). 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 TPG Inc. (TPG) a "Buy" — based on 17 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 — TPG or MS?
On trailing P/E, Morgan Stanley (MS) is the cheapest at 23.
8x versus TPG Inc. at 37. 7x. On forward P/E, Morgan Stanley is actually cheaper at 15. 9x.
03Which is the better long-term investment — TPG or MS?
Over the past 5 years, Morgan Stanley (MS) delivered a total return of +144.
0%, compared to +53. 9% for TPG Inc. (TPG). Over 10 years, the gap is even starker: MS returned +726. 4% versus TPG's +53. 9%. 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 — TPG or MS?
By beta (market sensitivity over 5 years), Morgan Stanley (MS) is the lower-risk stock at 1.
37β versus TPG Inc. 's 1. 61β — meaning TPG is approximately 17% more volatile than MS relative to the S&P 500. On balance sheet safety, TPG Inc. (TPG) carries a lower debt/equity ratio of 42% versus 3% for Morgan Stanley — giving it more financial flexibility in a downturn.
05Which is growing faster — TPG or MS?
By revenue growth (latest reported year), TPG Inc.
(TPG) is pulling ahead at 77. 9% versus 16. 8% for Morgan Stanley (MS). On earnings-per-share growth, the picture is similar: TPG Inc. grew EPS 1779% year-over-year, compared to 53. 5% for Morgan Stanley. 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 — TPG or MS?
Morgan Stanley (MS) is the more profitable company, earning 13.
0% net margin versus 4. 0% for TPG Inc. — meaning it keeps 13. 0% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: MS leads at 17. 1% versus 14. 7% for TPG. At the gross margin level — before operating expenses — TPG leads at 96. 9%, 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 TPG or MS more undervalued right now?
On forward earnings alone, Morgan Stanley (MS) trades at 15.
9x forward P/E versus 16. 5x for TPG Inc. — 0. 5x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for TPG: 42. 5% to $65. 00.
08Which pays a better dividend — TPG or MS?
All stocks in this comparison pay dividends.
TPG Inc. (TPG) offers the highest yield at 17. 6%, versus 2. 0% for Morgan Stanley (MS).
09Is TPG 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). TPG Inc. (TPG) carries a higher beta of 1. 61 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (MS: +726. 4%, TPG: +53. 9%), 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 TPG 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.
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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