BBD
Banco Bradesco S.A.
BBD offers stronger valuation, but that advantage does not outweigh its weaker overall profile.
MS
Morgan Stanley
MS has the edge over BBD overall, supported by lower modeled downside and stronger modeled upside.
BBD Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Stable | |
| N/A | |
| N/A |
BBD's revenue and profitability are currently stable. Free cash flow and net leverage aren't meaningful measures for financial services companies like BBD.
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.
BBD PE Valuation
BBD has no meaningful PE right now: it lost money over the past year.
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.
BBD Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Stable | |
| Growth | |
| Weakening | |
| Limited | |
| Moderate |
Analysts expect BBD's revenue to grow, but its profitability to weaken.
MS Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| Moderate |
MS has the edge over BBD on the outlook, with more favorable earnings and profitability expectations.
BBD Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | $0.46 | +28% |
| Q2 2026 | $0.42 | +20% |
| Q1 2026 | $0.40 | +29% |
| Q4 2025 | $0.40 | +43% |
| Q3 2025 | $0.36 | +57% |
| Q2 2025 | $0.35 | +67% |
| Q1 2025 | $0.31 | +48% |
| Q4 2024 | $0.28 | +22% |
BBD's earnings per share have climbed steadily: $0.46 over the past year, up 28% from the year before, and higher year over year for nine quarters in a row. Its recent earnings include one-off gains.
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 BBD on earnings, with stronger typical year-over-year growth.
BBD Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $16.1B | +11% |
| Q2 2026 | $15.6B | +14% |
| Q1 2026 | $16.1B | +28% |
| Q4 2025 | $15.1B | +28% |
| Q3 2025 | $14.4B | +30% |
| Q2 2025 | $13.7B | +27% |
| Q1 2025 | $12.6B | +16% |
| Q4 2024 | $11.9B | +5.4% |
BBD has the edge over MS on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 8% | +1.9 points |
| Q2 2026 | 7.8% | +2.1 points |
| Q1 2026 | 8.2% | -0.4 points |
| Q4 2025 | 6.8% | +1.8 points |
| Q3 2025 | 6% | -2.9 points |
| Q2 2025 | 5.7% | -0.5 points |
| Q1 2025 | 8.6% | +1.5 points |
| Q4 2024 | 5% | +6.8 points |
BBD's operating margin was 8% last quarter, up 1.9 points from 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's revenue has grown year over year for 14 quarters in a row: $20.3B last quarter, up 12% from the same quarter a year ago.
| 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 BBD on profitability, with a higher operating margin.
BBD Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$2.8B | -$2.6B |
| Q2 2026 | -$9.8B | -248% |
| Q1 2026 | $13.9B | +$29.2B |
| Q4 2025 | $16.3B | +1008% |
| Q3 2025 | -$216.8M | +$1.2B |
| Q2 2025 | $6.6B | +41% |
| Q1 2025 | -$15.3B | -638% |
| Q4 2024 | $1.5B | +$16.7B |
BBD 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.
BBD Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -28 shares |
| 1 year | -0.1% | -6.3M shares |
| 3 years | -6.7% | -763M shares |
| 5 years | -5.3% | -589M shares |
| Available history | -0.7% | -72.6M shares |
BBD has 10.6B diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $63,682 |
| Q2 2026 | — |
| Q1 2026 | $21.5M |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | $39.9M |
| Q4 2024 | $22.6M |
BBD has spent almost nothing on buybacks in the past year.
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 the edge over BBD on shareholder dilution, with a more favorable share count trend.
BBD Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 3.0x | Elevated |
| Q2 2026 | 4.5x | High |
| Q1 2026 | 8.1x | High |
| Q4 2025 | 22.9x | High |
| Q3 2025 | 23.0x | High |
| Q2 2025 | 21.7x | High |
| Q1 2025 | 20.7x | High |
| Q4 2024 | 22.1x | High |
BBD 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.
BBD Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 35.8 | Neutral |
| Stochastic | 2.8 | Oversold |
BBD's weekly RSI is 36 (neutral) and its Stochastic is 3 (oversold).
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).
BBD PE vs Financial Services Sector
| Metric | BBD | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 13x | — |
BBD has no meaningful PE right now: it lost money over the past year.
MS PE vs Financial Services Sector
| Metric | MS | Sector median | Relative |
|---|---|---|---|
| PE | 15x | 13x | 15% above |
| PE % | 59 | 63 | 4 pts below |
MS is trading at 15x earnings, a 15% premium to the Financial Services sector's median of 13x.
BBD Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $3.37 | 26% below |
| 20 week MA | $3.41 | 26% below |
| 50 week MA | $3.56 | 29% below |
| 100 week MA | $3.13 | 20% below |
| 200 week MA | $2.98 | 16% below |
BBD is in a downtrend: it's below all five of its weekly moving averages, and 16% below its 200-week average.
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 has the edge over BBD on trend strength, trading above more of its moving averages.
BBD Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $6.69 | $4.41 | -34% |
| 2021 | $4.41 | $3.07 | -30% |
| 2022 | $3.07 | $2.93 | -4.6% |
| 2023 | $2.93 | $3.50 | +19% |
| 2024 | $3.50 | $1.90 | -46% |
| 2025 | $1.90 | $3.35 | +76% |
| 2026 YTD | $3.35 | $2.51 | -25% |
BBD has finished lower in four of the last six years. It's down 25% so far in 2026.
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 the edge over BBD on returns for 2026, with the stronger performance.