# Morgan Stanley CDR (CAD Hedged) (MS.TO) fundamentals

Data as of 2026-11-04. TSX, Canada. Sector: Financial Services / Capital Markets. Price C$37.34, market value C$389.3 billion.

## Valuation
- **P/E (trailing): 14.9×** (5-yr avg 23.4×, 3-yr avg 23.4×). Morgan Stanley CDR (CAD Hedged) trades at 14.9× trailing earnings, well below its own five-year average of 23.4×: cheap by its own standards. The Financial Services median in the September 2026 study was 13.1×.
- **Price / sales: 5.3×**. Each dollar of revenue is priced at 5.3×.
- **Price / book: 2.0×**. The shares trade at 2.0× book value; book value is a meaningful part of the valuation.
- **Free-cash-flow yield: -4.8%** (5-yr avg -5.5%). Free cash flow is negative: the business is consuming cash, which is normal for heavy investment phases but a warning otherwise.
- **Earnings yield: 6.7%**. The inverse of the P/E: 6.7% of the price is earned each year.

## Profitability
- **Net margin: 25.6%**. 25.6% of each dollar of sales reaches the bottom line.
- **Return on equity: 15.1%**. 15.1% on shareholders' equity is solid.
- **Return on assets: 1.4%**. Each dollar of assets produces 1.4% of profit; low single digits are normal for banks and insurers.

## Growth
- **Revenue growth (1 yr): 14.5%** (3-yr 9.5%/yr). Revenue grew 14.5% over the last year.
- **EPS growth (1 yr): 28.4%** (3-yr 18.4%/yr). Earnings per share rose 28.4%, faster than revenue, so margins expanded or the share count shrank.

## Financial health
- **Piotroski F-score: 3/9**. 3 of 9 checks pass: weak or deteriorating financials.
- **Cash and short-term investments: C$81.3 billion**. Leverage ratios are shown differently for banks and insurers, whose balance sheets are built on deposits and reserves; use return on equity and the regulatory capital in the filings instead.

## Dividends
- **Dividend: none**. Morgan Stanley CDR (CAD Hedged) does not currently pay a dividend, but it returned 1.9% of its market value through buybacks over the last year.

## Price and momentum
- **From 52-week high: -20.2%** (19.0% above the low). Trading 20% below its 52-week high.
- **200-day average: below**. The price sits below its 200-day moving average, the usual definition of a downtrend.
- **RSI (14-day): 43**. An RSI of 43 is neutral.
- **Beta (1 yr): 1.15** (volatility 31%). Beta of 1.15 against the S&P/TSX Composite: the shares move roughly with the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=MS.TO · Page: https://foliofundamentals.com/stocks/ms.to

Not investment advice.