Blackstone Inc. vs MORGAN STANLEY, two Financial Services stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Blackstone earns fees and carried interest on alternative assets, and the market prices that stream at 29.58 times earnings and 4.53 times book, the steepest book multiple among the large financials here. It pays a 4.07% dividend and runs modest leverage at 0.67 debt-to-equity. Morgan Stanley, a diversified investment bank with a big wealth arm, trades far cheaper at 19.21 times earnings and 2.90 times book, carrying heavier leverage at 3.15 and paying 1.82%. Both post net margins near a quarter of revenue, 20.67% for Blackstone and 24.65% for Morgan Stanley. The gap in book multiple is the market paying up for asset-light fee economics.
Comparison updated 2026-07-11.
| Metric | BX | MS |
|---|---|---|
| Price | $123.07 | $222.17 |
| Market cap | $96.8B | $350.1B |
| Sector | Financial Services | Financial Services |
| Stage | Growth | Growth |
| P/E | 31.6 | 20.1 |
| P/B | 4.83 | 3.03 |
| P/S | 6.55 | 4.76 |
| EV/EBITDA | — | 811.8 |
| Revenue growth | +17.1% | +14.1% |
| Net margin | 20.7% | 24.6% |
| Return on equity | 15.3% | 15.7% |
| Return on assets | 6.3% | 1.1% |
| Dividend yield | 3.8% | 1.7% |
| Debt / equity | 0.67 | 3.15 |
| Altman Z (solvency) | 2.45 | 0.30 |
| Piotroski F (quality) | 6 / 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.