MORGAN STANLEY (DWD.DE) Fundamental Analysis & Valuation

FRA:DWD • US6174464486

Current stock price

160.85 EUR
+0.4 (+0.25%)
Last:

This DWD.DE fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

4

1. DWD.DE Profitability Analysis

1.1 Basic Checks

  • DWD had positive earnings in the past year.
  • DWD had a negative operating cash flow in the past year.
  • In the past 5 years DWD has always been profitable.
  • The reported operating cash flow has been mixed in the past 5 years: DWD reported negative operating cash flow in multiple years.
DWD.DE Yearly Net Income VS EBIT VS OCF VS FCFDWD.DE Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 20B -20B 40B

1.2 Ratios

  • DWD has a Return On Assets (1.14%) which is comparable to the rest of the industry.
  • With a decent Return On Equity value of 14.56%, DWD is doing good in the industry, outperforming 73.91% of the companies in the same industry.
  • DWD has a Return On Invested Capital (1.45%) which is in line with its industry peers.
  • The Average Return On Invested Capital over the past 3 years for DWD is significantly below the industry average of 8.59%.
  • The 3 year average ROIC (1.27%) for DWD is below the current ROIC(1.45%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 1.14%
ROE 14.56%
ROIC 1.45%
ROA(3y)0.97%
ROA(5y)1.01%
ROE(3y)11.81%
ROE(5y)11.95%
ROIC(3y)1.27%
ROIC(5y)1.31%
DWD.DE Yearly ROA, ROE, ROICDWD.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5 10

1.3 Margins

  • With a Profit Margin value of 13.58%, DWD perfoms like the industry average, outperforming 58.26% of the companies in the same industry.
  • DWD's Profit Margin has declined in the last couple of years.
  • DWD's Operating Margin of 18.35% is fine compared to the rest of the industry. DWD outperforms 63.48% of its industry peers.
  • DWD's Operating Margin has declined in the last couple of years.
  • DWD's Gross Margin of 55.13% is fine compared to the rest of the industry. DWD outperforms 70.43% of its industry peers.
  • DWD's Gross Margin has declined in the last couple of years.
Industry RankSector Rank
OM 18.35%
PM (TTM) 13.58%
GM 55.13%
OM growth 3Y-4.95%
OM growth 5Y-7.71%
PM growth 3Y-5.29%
PM growth 5Y-7.41%
GM growth 3Y-10.21%
GM growth 5Y-8.75%
DWD.DE Yearly Profit, Operating, Gross MarginsDWD.DE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20 40 60 80

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1

2. DWD.DE Health Analysis

2.1 Basic Checks

  • DWD has less shares outstanding than it did 1 year ago.
  • DWD has less shares outstanding than it did 5 years ago.
  • DWD has a worse debt/assets ratio than last year.
DWD.DE Yearly Shares OutstandingDWD.DE Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 500M 1B 1.5B
DWD.DE Yearly Total Debt VS Total AssetsDWD.DE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 500B 1T

2.2 Solvency

  • Based on the Altman-Z score of -0.07, we must say that DWD is in the distress zone and has some risk of bankruptcy.
  • DWD has a Altman-Z score of -0.07. This is comparable to the rest of the industry: DWD outperforms 40.87% of its industry peers.
  • A Debt/Equity ratio of 7.71 is on the high side and indicates that DWD has dependencies on debt financing.
  • DWD has a Debt to Equity ratio of 7.71. This is in the lower half of the industry: DWD underperforms 68.70% of its industry peers.
Industry RankSector Rank
Debt/Equity 7.71
Debt/FCF N/A
Altman-Z -0.07
ROIC/WACCN/A
WACCN/A
DWD.DE Yearly LT Debt VS Equity VS FCFDWD.DE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 100B 200B 300B

2.3 Liquidity

  • A Current Ratio of 0.30 indicates that DWD may have some problems paying its short term obligations.
  • DWD's Current ratio of 0.30 is on the low side compared to the rest of the industry. DWD is outperformed by 60.87% of its industry peers.
  • DWD has a Quick Ratio of 0.30. This is a bad value and indicates that DWD is not financially healthy enough and could expect problems in meeting its short term obligations.
  • Looking at the Quick ratio, with a value of 0.30, DWD is doing worse than 60.87% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 0.3
Quick Ratio 0.3
DWD.DE Yearly Current Assets VS Current LiabilitesDWD.DE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200B 400B 600B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

5

3. DWD.DE Growth Analysis

3.1 Past

  • The Earnings Per Share has grown by an impressive 29.58% over the past year.
  • Measured over the past years, DWD shows a quite strong growth in Earnings Per Share. The EPS has been growing by 9.28% on average per year.
  • DWD shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 12.28%.
  • Measured over the past years, DWD shows a quite strong growth in Revenue. The Revenue has been growing by 17.86% on average per year.
EPS 1Y (TTM)29.58%
EPS 3Y18.47%
EPS 5Y9.28%
EPS Q2Q%31.92%
Revenue 1Y (TTM)12.28%
Revenue growth 3Y21.98%
Revenue growth 5Y17.86%
Sales Q2Q%16.02%

3.2 Future

  • The Earnings Per Share is expected to grow by 7.77% on average over the next years.
  • Based on estimates for the next years, DWD will show a small growth in Revenue. The Revenue will grow by 5.09% on average per year.
EPS Next Y15.01%
EPS Next 2Y11.69%
EPS Next 3Y9.58%
EPS Next 5Y7.77%
Revenue Next Year8.97%
Revenue Next 2Y7.28%
Revenue Next 3Y6.28%
Revenue Next 5Y5.09%

3.3 Evolution

  • The EPS growth rate is stable: in the next years the growth will be about the same than in the last years.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
DWD.DE Yearly Revenue VS EstimatesDWD.DE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 20B 40B 60B 80B 100B
DWD.DE Yearly EPS VS EstimatesDWD.DE Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 5 10 15

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4

4. DWD.DE Valuation Analysis

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 17.06, DWD is valued on the expensive side.
  • 72.17% of the companies in the same industry are more expensive than DWD, based on the Price/Earnings ratio.
  • DWD's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 27.42.
  • The Price/Forward Earnings ratio is 14.79, which indicates a correct valuation of DWD.
  • Based on the Price/Forward Earnings ratio, DWD is valued a bit cheaper than 77.39% of the companies in the same industry.
  • The average S&P500 Price/Forward Earnings ratio is at 22.29. DWD is valued slightly cheaper when compared to this.
Industry RankSector Rank
PE 17.06
Fwd PE 14.79
DWD.DE Price Earnings VS Forward Price EarningsDWD.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • 66.96% of the companies in the same industry are more expensive than DWD, based on the Enterprise Value to EBITDA ratio.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 20.89
DWD.DE Per share dataDWD.DE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 20 40 60

4.3 Compensation for Growth

  • DWD's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
PEG (NY)1.14
PEG (5Y)1.84
EPS Next 2Y11.69%
EPS Next 3Y9.58%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

4

5. DWD.DE Dividend Analysis

5.1 Amount

  • DWD has a Yearly Dividend Yield of 2.12%.
  • DWD's Dividend Yield is comparable with the industry average which is at 3.11.
  • Compared to an average S&P500 Dividend Yield of 1.81, DWD has a dividend comparable with the average S&P500 company.
Industry RankSector Rank
Dividend Yield 2.12%

5.2 History

  • On average, the dividend of DWD grows each year by 20.76%, which is quite nice.
Dividend Growth(5Y)20.76%
Div Incr Years7
Div Non Decr Years7
DWD.DE Yearly Dividends per shareDWD.DE Yearly Dividends per shareYearly Dividends per share 2018 2019 2020 2021 2022 2023 2024 2025 2026 1 2 3

5.3 Sustainability

  • DWD pays out 40.57% of its income as dividend. This is a bit on the high side, but may be sustainable.
  • The dividend of DWD is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP40.57%
EPS Next 2Y11.69%
EPS Next 3Y9.58%
DWD.DE Yearly Income VS Free CF VS DividendDWD.DE Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 20B -20B
DWD.DE Dividend Payout.DWD.DE Dividend Payout, showing the Payout Ratio.DWD.DE Dividend Payout.PayoutRetained Earnings

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DWD.DE Fundamentals: All Metrics, Ratios and Statistics

MORGAN STANLEY

FRA:DWD (4/27/2026, 10:23:46 AM)

160.85

+0.4 (+0.25%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryCapital Markets
Earnings (Last)04-15
Earnings (Next)07-15
Inst Owners62.71%
Inst Owner ChangeN/A
Ins Owners0.2%
Ins Owner ChangeN/A
Market Cap254.37B
Revenue(TTM)123.68B
Net Income(TTM)16.25B
Analysts74.55
Price Target165.32 (2.78%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 2.12%
Yearly Dividend3.53
Dividend Growth(5Y)20.76%
DP40.57%
Div Incr Years7
Div Non Decr Years7
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)18.02%
Min EPS beat(2)6.78%
Max EPS beat(2)29.27%
EPS beat(4)4
Avg EPS beat(4)14.07%
Min EPS beat(4)5.77%
Max EPS beat(4)29.27%
EPS beat(8)8
Avg EPS beat(8)15.53%
EPS beat(12)11
Avg EPS beat(12)10.88%
EPS beat(16)13
Avg EPS beat(16)8.36%
Revenue beat(2)1
Avg Revenue beat(2)1.84%
Min Revenue beat(2)-2.27%
Max Revenue beat(2)5.96%
Revenue beat(4)3
Avg Revenue beat(4)2.26%
Min Revenue beat(4)-2.27%
Max Revenue beat(4)5.96%
Revenue beat(8)7
Avg Revenue beat(8)2.68%
Revenue beat(12)8
Avg Revenue beat(12)6.46%
Revenue beat(16)12
Avg Revenue beat(16)9.84%
PT rev (1m)-7.26%
PT rev (3m)2.19%
EPS NQ rev (1m)1.61%
EPS NQ rev (3m)2.2%
EPS NY rev (1m)0.68%
EPS NY rev (3m)2.75%
Revenue NQ rev (1m)2.13%
Revenue NQ rev (3m)2.35%
Revenue NY rev (1m)0.12%
Revenue NY rev (3m)0.29%
Valuation
Industry RankSector Rank
PE 17.06
Fwd PE 14.79
P/S 2.49
P/FCF N/A
P/OCF N/A
P/B 2.67
P/tB 3.35
EV/EBITDA 20.89
EPS(TTM)9.43
EY5.86%
EPS(NY)10.88
Fwd EY6.76%
FCF(TTM)-11.22
FCFYN/A
OCF(TTM)-9.66
OCFYN/A
SpS64.61
BVpS60.27
TBVpS48
PEG (NY)1.14
PEG (5Y)1.84
Graham Number113.085 (-29.7%)
Profitability
Industry RankSector Rank
ROA 1.14%
ROE 14.56%
ROCE 3.35%
ROIC 1.45%
ROICexc 1.61%
ROICexgc 1.68%
OM 18.35%
PM (TTM) 13.58%
GM 55.13%
FCFM N/A
ROA(3y)0.97%
ROA(5y)1.01%
ROE(3y)11.81%
ROE(5y)11.95%
ROIC(3y)1.27%
ROIC(5y)1.31%
ROICexc(3y)1.41%
ROICexc(5y)1.48%
ROICexgc(3y)1.48%
ROICexgc(5y)1.56%
ROCE(3y)2.92%
ROCE(5y)3.05%
ROICexgc growth 3Y6.38%
ROICexgc growth 5Y2.27%
ROICexc growth 3Y6.82%
ROICexc growth 5Y2.22%
OM growth 3Y-4.95%
OM growth 5Y-7.71%
PM growth 3Y-5.29%
PM growth 5Y-7.41%
GM growth 3Y-10.21%
GM growth 5Y-8.75%
F-Score4
Asset Turnover0.08
Health
Industry RankSector Rank
Debt/Equity 7.71
Debt/FCF N/A
Debt/EBITDA 32.35
Cap/Depr 62.22%
Cap/Sales 2.42%
Interest Coverage 0.47
Cash Conversion N/A
Profit Quality N/A
Current Ratio 0.3
Quick Ratio 0.3
Altman-Z -0.07
F-Score4
WACCN/A
ROIC/WACCN/A
Cap/Depr(3y)69.82%
Cap/Depr(5y)68.24%
Cap/Sales(3y)3.07%
Cap/Sales(5y)3.53%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)29.58%
EPS 3Y18.47%
EPS 5Y9.28%
EPS Q2Q%31.92%
EPS Next Y15.01%
EPS Next 2Y11.69%
EPS Next 3Y9.58%
EPS Next 5Y7.77%
Revenue 1Y (TTM)12.28%
Revenue growth 3Y21.98%
Revenue growth 5Y17.86%
Sales Q2Q%16.02%
Revenue Next Year8.97%
Revenue Next 2Y7.28%
Revenue Next 3Y6.28%
Revenue Next 5Y5.09%
EBIT growth 1Y24.77%
EBIT growth 3Y15.93%
EBIT growth 5Y8.77%
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-889.86%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-1413.44%
OCF growth 3YN/A
OCF growth 5YN/A

MORGAN STANLEY / DWD.DE Fundamental Analysis FAQ

Can you provide the ChartMill fundamental rating for MORGAN STANLEY?

ChartMill assigns a fundamental rating of 3 / 10 to DWD.DE.


What is the valuation status for DWD stock?

ChartMill assigns a valuation rating of 4 / 10 to MORGAN STANLEY (DWD.DE). This can be considered as Fairly Valued.


What is the profitability of DWD stock?

MORGAN STANLEY (DWD.DE) has a profitability rating of 4 / 10.


Can you provide the expected EPS growth for DWD stock?

The Earnings per Share (EPS) of MORGAN STANLEY (DWD.DE) is expected to grow by 15.01% in the next year.


Can you provide the dividend sustainability for DWD stock?

The dividend rating of MORGAN STANLEY (DWD.DE) is 4 / 10 and the dividend payout ratio is 40.57%.