The WACC of Morgan Stanley (MS) is 10.5%.
| Range | Selected | |
| Cost of equity | 7.70% - 10.50% | 9.10% |
| Tax rate | 21.40% - 22.10% | 21.75% |
| Cost of debt | 4.00% - 23.90% | 13.95% |
| WACC | 4.2% - 16.7% | 10.5% |
| Category | Low | High |
| Long-term bond rate | 3.9% | 4.4% |
| Equity market risk premium | 4.6% | 5.6% |
| Adjusted beta | 0.84 | 1.01 |
| Additional risk adjustments | 0.0% | 0.5% |
| Cost of equity | 7.70% | 10.50% |
| Tax rate | 21.40% | 22.10% |
| Debt/Equity ratio | 3.38 | 3.38 |
| Cost of debt | 4.00% | 23.90% |
| After-tax WACC | 4.2% | 16.7% |
| Selected WACC | 10.5% | |