Morgan Stanley, a financial holding company, provides various financial products and services to corporations, governments, financial institutions, and individuals in the Americas, Asia, Europe, the Middle East, and Africa. It operates through Institutional Securities, Wealth Management, and Investment Management segments. The company offers capital raising and financial advisory services, including services related to the underwriting of debt, equity securities, and …
Full MS analysis →
Competitive advantage assessment
Key strengths
Premium Fee MarginsFee margin quality is strong (score 0.80).
Sticky AUM BaseRevenue stickiness is high (stability score 0.96).
Key risks
Elevated LeverageLeverage is elevated vs peers (score 0.18).
The dashed ring is the peer median. Defense scores are percentile ranks
against peers, so 50 is roughly the typical company in this group.
Upgrade to unlock the signals and evidence behind each defense.
Premium access
Unlock full defense analysis
Get key signals, strengths, and risks for every moat dimension.
Morgan Stanley ranks #9 of 67
scored companies in Capital Markets by moat score — the top 13%.
The widest moat in the group is Interactive Brokers Group, Inc. (IBKR)
at 83/100.
Moat scores for companies ranked near MS in Capital Markets
How MS scores on the Asset Management Specialized defenses
Fee Revenue Quality
Score 81
· 20% of the moat score
Fee revenue quality is the ability to charge above the industry's falling average and keep charging it.
Client Retention & Revenue Stickiness
Score 72
· 18% of the moat score
Assets under management leave far more easily than they arrive, and the fee leaves with them.
Compensation Discipline
Score 67
· 18% of the moat score
Compensation is the largest expense in asset management and the one that decides whether a good year ever reaches shareholders.
Capital Efficiency
Score 73
· 20% of the moat score
Asset managers are asset-light: with little capital employed, a healthy business should earn a very high return on equity, and a merely average one is a real warning.
Earnings Quality & Cash Conversion
Score 68
· 14% of the moat score
Reported profits here can be flattered by performance fees, seed-capital gains and consolidated fund accounting, none of which recur reliably.
Balance Sheet Strength
Score 41
· 10% of the moat score
Because the business needs so little capital, an asset manager carrying meaningful debt has usually borrowed to buy another manager or to fund distributions.
Morgan Stanley (MS) scores 70 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as moderate. It ranks #9 of 67 scored companies in Capital Markets, the top 13%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 74 companies in Capital Markets. Its strongest defense is Fee Revenue Quality (81/100) and its weakest is Balance Sheet Strength (41/100).
How does Morgan Stanley compare with other Capital Markets companies?
Morgan Stanley ranks #9 of 67 scored companies in Capital Markets by moat score. The widest moat in Capital Markets is Interactive Brokers Group, Inc. (IBKR) at 83/100. The companies ranked closest are PJT Partners Inc. (PJT) at 73 just above it and Marex Group plc (MRX) at 70 just below it.
How is the moat score calculated?
Each company is scored with an industry-specific template — Asset Management Specialized in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 74 companies in Capital Markets. The defenses are then weighted to produce the overall score out of 100.
Why is Morgan Stanley scored with the Asset Management Specialized template?
An asset manager owns almost nothing. It charges a fee on someone else's money, pays much of that fee out in compensation, and keeps the remainder — so its economics turn on the fee rate it can defend, whether client money stays, and how much revenue survives the bonus pool. The Asset Management template scores those questions rather than the balance sheet, which in this industry is largely beside the point.
Which competitive defenses are measured for Morgan Stanley?
The Asset Management Specialized template measures 6 defenses, and MS scores: Fee Revenue Quality (81), Client Retention & Revenue Stickiness (72), Compensation Discipline (67), Capital Efficiency (73), Earnings Quality & Cash Conversion (68), Balance Sheet Strength (41). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.
We value your privacy
We use cookies to enhance your browsing experience, analyze site traffic, and personalize content. By clicking 'Accept All', you consent to our use of cookies.
Read our cookie policy
Cookie Preferences
Manage your cookie preferences. Essential cookies are always enabled.