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STOCK COMPARISON

Goldman Sachs Group vs Morgan Stanley: Fair Value & Quality

Both stocks run through our valuation models. Here is how Goldman Sachs Group (GS) and Morgan Stanley (MS) compare, as of Sep 4, 2026.

As of Sep 4, 2026, Fair Value Calculator sees Goldman Sachs Group as the less overvalued of the two: Goldman Sachs Group trades at $1,038 versus a fair value of $757 (-27%), while Morgan Stanley trades at $217 versus $139 (-36%).
Goldman Sachs Group
GS · USD · Financials
-27%
upside to fair value
overvalued
Price$1,038
Fair Value$757
Quality53/100
Morgan Stanley
MS · USD · Financials
-36%
upside to fair value
overvalued
Price$217
Fair Value$139
Quality67/100
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Head-to-head numbers

Green value = the better side for that row (for valuation multiples: lower = cheaper).

Goldman Sachs GroupMorgan Stanley
Valuation
17.6×P/E (TTM)20.1×
5.03×P/S (TTM)4.79×
2.72×P/B3.14×
19.6×EV/EBITDA22.1×
1.57×PEG2.64×
−27.1%Fair value upside−36.0%
1.5%Dividend yield1.8%
$15.50Dividend per share$4.00
Profitability
42%Operating margin41%
0.75×EBIT margin trend (5Y)0.66×
17%Return on equity16%
1%Return on assets1%
Growth
43%Revenue growth (YoY)16%
22.1%Avg. growth/yr (3Y)22.5%
18.5%Avg. growth/yr (5Y)18.3%
+17.1%Value creation/yr+11.1%
Balance & size
0.3×Interest coverage (EBIT/interest)0.4×
2.37×Debt / equity3.13×
$340BMarket cap$351B
expensiveGrowth qualitymixed

Goldman Sachs Group leads: 10 to 5 metric wins.

Dash = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

Goldman Sachs Groupof which business quality 43 · market factors 65 Morgan Stanleyof which business quality 62 · market factors 72
ProfitabilityMargins and returns on capital today
29
31
Quality GrowthAre margins and returns improving?
58
56
CashflowEarnings quality: real cash, not paper profit
0
100
Fin. StrengthBalance sheet, leverage, solvency risk
30
26
InvestmentDisciplined investing over empire-building
83
82
Low VolatilityCalm price path (market factor)
51
58
MomentumPrice trend over the last 3–12 months (market factor)
66
73
52W MomentumDistance to the 52-week high (market factor)
79
87
Net IssuanceBuybacks instead of dilution
100
96

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyGoldman Sachs GroupPrice $1,038Morgan StanleyPrice $217
DCF Models-34%below the price$680-40%below the price$130
Earnings-Based-21%below the price$818-2%close to the price$214
Dividend Discount-68%below the price$334-63%below the price$79.85
Multiples-35%below the price$675-45%below the price$119
Asset-Based-73%below the price$284-78%below the price$47.42
Growth DCFn/a+53%above the price$332
Economic Profit-49%below the price$534-56%below the price$95.82
Minimum-73%below the price$284-78%below the price$47.42
Maximum-21%below the price$818+53%above the price$332
Median-42%below the price$604-45%below the price$119
Geometric mean-50%below the price$517-44%below the price$122

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

Goldman Sachs Group: 8 of 9 models see the stock below the current price.

Morgan Stanley: 11 of 13 models see the stock below the current price.

Scenario ranges

From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.

Goldman Sachs Group
Bear $406Fair Value $757Bull $946
$1,038 = current price (white tick)
Morgan Stanley
Bear $77.78Fair Value $139Bull $228
$217 = current price (white tick)

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

Goldman Sachs Group · Financials

Quality score53 · below median
Fair value upside-27% · below median

Morgan Stanley · Financials

Quality score67 · Top 25%
Fair value upside-36% · below median

Bottom line

As of Sep 4, 2026, Fair Value Calculator sees Goldman Sachs Group as the less overvalued of the two: Goldman Sachs Group trades at $1,038 versus a fair value of $757 (-27%), while Morgan Stanley trades at $217 versus $139 (-36%).

Morgan Stanley has the higher quality score (67/100).

See the full analysis →
Goldman Sachs Group · Morgan Stanley

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.