AIZ
Assurant, Inc.
AIZ offers stronger valuation, but that advantage does not outweigh its weaker overall profile.
MS
Morgan Stanley
MS has a slight edge over AIZ overall, supported by stronger modeled upside and stronger fundamentals.
AIZ Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| N/A | |
| N/A |
AIZ's profitability is currently healthy, and its revenue is stable. Free cash flow and net leverage aren't meaningful measures for financial services companies like AIZ.
MS Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| N/A | |
| N/A |
MS's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like MS.
AIZ PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 12x | $254 | -21% |
| Forward | 13x | $321 | — |
| Fair | 15x | $328 | +2.1% |
| Current | 15x | $321 | — |
| Expensive | 22x | $469 | +46% |
Historical ranges are pointers, not guarantees.
AIZ has the edge over MS in the historical PE scenario, which offers more potential upside but is not a forecast.
MS PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 11x | $134 | -29% |
| Fair | 14x | $178 | -5.7% |
| Forward | 14x | $189 | — |
| Current | 15x | $189 | — |
| Expensive | 18x | $223 | +18% |
Historical ranges are pointers, not guarantees.
MS's PE is in its fair range at 15x. If earnings grow as analysts expect, today's price would be 14x next year's earnings.
AIZ Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for AIZ, with profitability improving.
MS Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for MS, with profitability improving.
AIZ Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $23.95 | +13% |
| Q3 2026 | $21.22 | +29% |
| Q2 2026 | $20.90 | +51% |
| Q1 2026 | $19.51 | +52% |
| Q4 2025 | $16.93 | +17% |
| Q3 2025 | $16.42 | +17% |
| Q2 2025 | $13.80 | -7.9% |
| Q1 2025 | $12.82 | -10% |
| Q4 2024 | $14.46 | +21% |
AIZ earned $21.22 per share over the past year, up 29% from the year before.
MS Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $13.39 | +6.3% |
| Q3 2026 | $12.60 | +29% |
| Q2 2026 | $12.37 | +40% |
| Q1 2026 | $11.04 | +29% |
| Q4 2025 | $10.21 | +28% |
| Q3 2025 | $9.76 | +48% |
| Q2 2025 | $8.84 | +45% |
| Q1 2025 | $8.53 | +55% |
| Q4 2024 | $7.95 | +53% |
MS has the edge over AIZ on earnings, with more consistent year-over-year improvement.
AIZ Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $3.5B | +9.2% |
| Q2 2026 | $3.5B | +9.4% |
| Q1 2026 | $3.4B | +11% |
| Q4 2025 | $3.4B | +7.9% |
| Q3 2025 | $3.2B | +8.9% |
| Q2 2025 | $3.2B | +8% |
| Q1 2025 | $3.1B | +6.7% |
| Q4 2024 | $3.1B | +4.1% |
AIZ's revenue has grown year over year for 16 quarters in a row: $3.5B last quarter, up 9.2% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 9.9% | -0.3 points |
| Q2 2026 | 11% | +1.8 points |
| Q1 2026 | 9.8% | +3.8 points |
| Q4 2025 | 8.5% | +0.4 points |
| Q3 2025 | 10% | +5.2 points |
| Q2 2025 | 9.2% | +1.2 points |
| Q1 2025 | 6% | -4.2 points |
| Q4 2024 | 8.1% | +0.5 points |
AIZ's operating margin was 9.9% last quarter, about level with the same quarter a year ago.
MS Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $20.3B | +12% |
| Q2 2026 | $21.3B | +27% |
| Q1 2026 | $20.6B | +16% |
| Q4 2025 | $17.9B | +10% |
| Q3 2025 | $18.2B | +18% |
| Q2 2025 | $16.8B | +12% |
| Q1 2025 | $17.7B | +17% |
| Q4 2024 | $16.2B | +26% |
MS has the edge over AIZ on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 32% | -1.2 points |
| Q2 2026 | 34% | +6.9 points |
| Q1 2026 | 34% | +2.8 points |
| Q4 2025 | 32% | +2 points |
| Q3 2025 | 33% | +5.6 points |
| Q2 2025 | 28% | +0.4 points |
| Q1 2025 | 31% | +2.2 points |
| Q4 2024 | 30% | +14 points |
MS has the edge over AIZ on profitability, with a higher operating margin.
AIZ Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $620.3M | +40% |
| Q2 2026 | $409.2M | +99% |
| Q1 2026 | $192.6M | -43% |
| Q4 2025 | $611.7M | +1658% |
| Q3 2025 | $442.1M | +14% |
| Q2 2025 | $205.6M | -69% |
| Q1 2025 | $339M | +969% |
| Q4 2024 | $34.8M | -89% |
AIZ has the edge over MS on cash generation, producing positive trailing cash flow while its opponent burns cash.
MS Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$46B | -$42.7B |
| Q2 2026 | -$2.7B | -123% |
| Q1 2026 | -$7.1B | +$16.9B |
| Q4 2025 | -$2.4B | -120% |
| Q3 2025 | -$3.3B | +$14B |
| Q2 2025 | $11.8B | +368% |
| Q1 2025 | -$24B | -650% |
| Q4 2024 | $11.8B | +$29.6B |
MS's free cash flow was −$58.3B over the past year, against −$3.7B the year before. Free cash flow isn't a meaningful measure for financial services companies like MS.
AIZ Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.2% | -115K shares |
| 1 year | -3.1% | -1.6M shares |
| 3 years | -7.5% | -4M shares |
| 5 years | -16% | -9.8M shares |
| Available history | -20% | -12.6M shares |
AIZ has the edge over MS on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $75.7M |
| Q2 2026 | $77.6M |
| Q1 2026 | $124.2M |
| Q4 2025 | $94.3M |
| Q3 2025 | $81.8M |
| Q2 2025 | $63.3M |
| Q1 2025 | $64.3M |
| Q4 2024 | $120.3M |
AIZ spent $372M buying back its own shares over the past year, up 13% from the year before.
MS Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.2% | -3M shares |
| 1 year | -1.5% | -24M shares |
| 3 years | -4.7% | -77M shares |
| 5 years | -14% | -246M shares |
| Available history | -4.5% | -74M shares |
MS has 1.6B diluted shares, down 1.5% from a year ago.
AIZ Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.3x | Very low |
| Q2 2026 | 0.3x | Very low |
| Q1 2026 | 0.4x | Very low |
| Q4 2025 | 0.3x | Very low |
| Q3 2025 | 0.4x | Very low |
| Q2 2025 | 0.5x | Very low |
| Q1 2025 | 0.4x | Very low |
| Q4 2024 | 0.2x | Very low |
AIZ has the edge over MS on leverage, with a lower net debt burden relative to earnings.
MS Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 7.8x | High |
| Q2 2026 | 7.3x | High |
| Q1 2026 | 8.2x | High |
| Q4 2025 | 8.6x | High |
| Q3 2025 | 8.4x | High |
| Q2 2025 | 8.7x | High |
| Q1 2025 | 8.7x | High |
| Q4 2024 | 7.9x | High |
MS's net debt is about 7.8 years of its operating earnings (EBITDA), down from 8.4 years a year ago. Net leverage isn't a meaningful measure for financial services companies like MS.
AIZ Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 77.0 | Overbought |
| Stochastic | 83.0 | Overbought |
AIZ's weekly RSI is 77 (overbought) and its Stochastic is 83 (overbought).
MS Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 45.0 | Neutral |
| Stochastic | 18.7 | Oversold |
MS's weekly RSI is 45 (neutral) and its Stochastic is 19 (oversold).
AIZ PE vs Financial Services Sector
| Metric | AIZ | Sector median | Relative |
|---|---|---|---|
| PE | 15x | 13x | 16% above |
| PE % | 45 | 63 | 18 pts below |
AIZ is trading at 15x earnings, a 16% premium to the Financial Services sector's median of 13x.
MS PE vs Financial Services Sector
| Metric | MS | Sector median | Relative |
|---|---|---|---|
| PE | 15x | 13x | 15% above |
| PE % | 59 | 63 | 4 pts below |
MS has the edge over AIZ on valuation relative to its sector.
AIZ Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $286.0 | 12% above |
| 20 week MA | $283.6 | 13% above |
| 50 week MA | $254.7 | 26% above |
| 100 week MA | $230.3 | 39% above |
| 200 week MA | $195.3 | 64% above |
AIZ has the edge over MS on trend strength, trading above more of its moving averages.
MS Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $186.5 | 1.5% above |
| 20 week MA | $203.3 | 6.9% below |
| 50 week MA | $191.9 | 1.4% below |
| 100 week MA | $164.9 | 15% above |
| 200 week MA | $129.3 | 46% above |
MS's trend is mixed: it's above three of its five weekly moving averages, and 46% above its 200-week average.
AIZ Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $129.7 | $132.6 | +2.3% |
| 2021 | $132.6 | $152.3 | +15% |
| 2022 | $152.3 | $125.0 | -18% |
| 2023 | $125.0 | $168.5 | +35% |
| 2024 | $168.5 | $215.1 | +28% |
| 2025 | $215.1 | $240.1 | +12% |
| 2026 YTD | $240.1 | $321.1 | +34% |
AIZ has the edge over MS on returns for 2026, with the stronger performance.
MS Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $51.1 | $68.1 | +33% |
| 2021 | $68.1 | $99.3 | +46% |
| 2022 | $99.3 | $86.1 | -13% |
| 2023 | $86.1 | $93.3 | +8.3% |
| 2024 | $93.3 | $126.8 | +36% |
| 2025 | $126.8 | $181.9 | +43% |
| 2026 YTD | $181.9 | $189.2 | +4% |
MS has finished higher in five of the last six years. It's up 4% so far in 2026.