The WACC of Morgan Stanley (MS) is 9.3%.
| Range | Selected | |
| Cost of equity | 7.80% - 10.70% | 9.25% |
| Tax rate | 21.40% - 22.10% | 21.75% |
| Cost of debt | 4.00% - 19.90% | 11.95% |
| WACC | 4.1% - 14.6% | 9.3% |
| Category | Low | High |
| Long-term bond rate | 3.9% | 4.4% |
| Equity market risk premium | 4.6% | 5.6% |
| Adjusted beta | 0.86 | 1.04 |
| Additional risk adjustments | 0.0% | 0.5% |
| Cost of equity | 7.80% | 10.70% |
| Tax rate | 21.40% | 22.10% |
| Debt/Equity ratio | 4.15 | 4.15 |
| Cost of debt | 4.00% | 19.90% |
| After-tax WACC | 4.1% | 14.6% |
| Selected WACC | 9.3% | |