InvestMoat

Goldman Sachs vs Morgan Stanley

Closer than you think?

Morgan Stanley wins, 68 to 63, on moat and growth.

GS · Financials

Goldman Sachs

…

Speculative BuyFull analysis

MS · Financials

Morgan Stanley

…

HoldFull analysis

GS

MS

Composite
63
68
(higher)
Moat
61
67
(higher)
Growth
60
66
(higher)
Valuation
72
72

GS

MS

Bear
$660
$140
Base
$990
$200
Bull
$1,250
$240
Upside to base
—
—

GS

MS

Revenue CAGR, 3–5 yr
6-9%
8-11%

GS

MS

Proprietary Data
Intact
Intact
Regulatory Lock-In
Intact
Intact
Network Effects
Intact
Intact
Transaction Embedding
Weakened
Intact (higher)
System of Record
Weakened
Intact (higher)
Scale Economics
N/A
Intact (higher)
Brand & Pricing Power
Strong (higher)
N/A

GS

MS

Learned Interfaces
Intact
Intact
Business Logic
Intact
Intact
Public Data Access
N/A
N/A
Talent Scarcity
Intact
Intact
Bundling
Intact
Strong (higher)

Shaded cells mark the higher score or stronger moat on each row. Valuation and composite use the live price when it is available, the same as each stock page.

Which is the better stock, Goldman Sachs or Morgan Stanley?

Morgan Stanley wins, 68 to 63, on moat and growth. Our rating: Goldman Sachs Speculative Buy, Morgan Stanley Hold.

Does Goldman Sachs or Morgan Stanley have the wider moat?

Morgan Stanley scores 67 on moat to Goldman Sachs's 61. Morgan Stanley is rated stronger on transaction embedding, system of record and bundling.

Which is growing faster, Goldman Sachs or Morgan Stanley?

Morgan Stanley scores 66 on growth to Goldman Sachs's 60. We expect Goldman Sachs to grow 6–9% a year, Morgan Stanley 8–11%.

Is Goldman Sachs or Morgan Stanley cheaper right now?

Both score 72 on valuation. In our base case, Goldman Sachs has more upside: +11% vs +10%.

Scores in the answers use the price each valuation was last struck at; the table above updates with the live price. Not investment advice.