APOLLO GLOBAL MANAGEMENT, INC. vs MORGAN STANLEY, two Financial Services stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Morgan Stanley pairs an investment bank with a wealth-management arm, earning 15.7% on equity at a 24.65% net margin and 19.21 times earnings. It carries real leverage at 3.15 debt-to-equity, pays 1.82%, and trades at 2.90 times book. Apollo Global manages alternative assets alongside a retirement and annuity book, and its 74.39 times GAAP earnings reflects insurance accounting rather than the cash economics. Apollo trades at 1.78 times book, closer to its stated equity, with an 11.16% free-cash yield and a 1.68% dividend. Morgan Stanley reads as a diversified bank priced on returns; Apollo as a fee collector whose reported profit understates the money moving underneath.
Comparison updated 2026-07-11.
| Metric | APO | MS |
|---|---|---|
| Price | $120.33 | $222.17 |
| Market cap | $71.6B | $350.1B |
| Sector | Financial Services | Financial Services |
| Stage | Growth | Growth |
| P/E | 75.7 | 20.1 |
| P/B | 1.81 | 3.03 |
| P/S | 2.27 | 4.76 |
| EV/EBITDA | 216.1 | 811.8 |
| Revenue growth | +29.4% | +14.1% |
| Net margin | 3.6% | 24.6% |
| Return on equity | 2.9% | 15.7% |
| Return on assets | 0.2% | 1.1% |
| Dividend yield | 1.6% | 1.7% |
| Debt / equity | 0.36 | 3.15 |
| Altman Z (solvency) | 0.18 | 0.30 |
| Piotroski F (quality) | 5 / 9 | 7 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.