BSAC
Banco Santander-Chile
BSAC offers stronger valuation, but that advantage does not outweigh its weaker overall profile.
MS
Morgan Stanley
MS has the edge over BSAC overall, supported by stronger fundamentals and stronger modeled upside.
BSAC Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| N/A | |
| N/A |
BSAC's profitability is currently strong, and its revenue is stable. Free cash flow and net leverage aren't meaningful measures for financial services companies like BSAC.
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.
BSAC PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 10x | $24.82 | -22% |
| Fair | 12x | $29.10 | -9% |
| Current | 13x | $31.97 | — |
| Expensive | 14x | $34.00 | +6.3% |
Historical ranges are pointers, not guarantees.
BSAC 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.
BSAC Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for BSAC, 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.
BSAC Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | $2.46 | +8.4% |
| Q1 2026 | $2.23 | +3.2% |
| Q4 2025 | $2.23 | +22% |
| Q3 2025 | $2.28 | +27% |
| Q2 2025 | $2.27 | +63% |
| Q1 2025 | $2.16 | +80% |
| Q4 2024 | $1.83 | +49% |
| Q3 2024 | $1.79 | +108% |
BSAC's earnings per share have climbed steadily: $2.46 over the past year, up 8.4% from the year before, and higher year over year for nine quarters in a row.
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 BSAC on earnings, with stronger typical year-over-year growth.
BSAC Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $1.2B | +2.7% |
| Q1 2026 | $734.2M | -30% |
| Q4 2025 | $1.8B | +45% |
| Q3 2025 | $1.1B | +95% |
| Q2 2025 | $1.2B | -2.4% |
| Q1 2025 | $1.1B | -9.6% |
| Q4 2024 | $1.2B | -9% |
| Q3 2024 | $559M | -54% |
BSAC's revenue is growing: $1.2B last quarter, up 2.7% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 37% | +9.4 points |
| Q1 2026 | 46% | +14 points |
| Q4 2025 | 16% | -11 points |
| Q3 2025 | 28% | -32 points |
| Q2 2025 | 27% | +4.5 points |
| Q1 2025 | 32% | +18 points |
| Q4 2024 | 27% | +3.5 points |
| Q3 2024 | 60% | +54 points |
BSAC has the edge over MS on profitability, with a higher operating margin.
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 BSAC on sales, with more consistent year-over-year improvement.
| 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's operating margin was 32% last quarter, down 1.2 points from the same quarter a year ago.
BSAC Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | -$121.7M | -114% |
| Q1 2026 | -$216.5M | -$8.4M |
| Q4 2025 | -$438.3M | -42765% |
| Q3 2025 | $536M | +49500% |
| Q2 2025 | $887.3M | +78% |
| Q1 2025 | -$208.1M | -$122.4M |
| Q4 2024 | $1M | -34% |
| Q3 2024 | $1.1M | +$479.5M |
BSAC's free cash flow was −$240M over the past year, against $681M the year before. Free cash flow isn't a meaningful measure for financial services companies like BSAC.
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 has the edge over BSAC on cash flow, with more consistent year-over-year improvement.
BSAC Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | +317 shares |
| 1 year | 0% | -- |
| 3 years | 0% | -- |
| 5 years | 0% | -- |
| Available history | 0% | -- |
BSAC has 471M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
BSAC hasn't bought back shares 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 BSAC on shareholder dilution, with a more favorable share count trend.
BSAC Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 6.5x | High |
| Q1 2026 | 33.2x | High |
| Q4 2025 | 7.7x | High |
| Q3 2025 | 7.8x | High |
| Q2 2025 | 8.9x | High |
| Q1 2025 | 7.3x | High |
| Q4 2024 | 7.9x | High |
| Q3 2024 | 10.9x | High |
BSAC 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.
BSAC Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 46.6 | Neutral |
| Stochastic | 30.1 | Neutral |
BSAC's weekly RSI is 47 (neutral) and its Stochastic is 30 (neutral).
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).
BSAC PE vs Financial Services Sector
| Metric | BSAC | Sector median | Relative |
|---|---|---|---|
| PE | 13x | 13x | 0.2% below |
| PE % | 72 | 63 | 9 pts above |
BSAC has the edge over MS on valuation relative to its sector.
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.
BSAC Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $32.2 | 0.8% below |
| 20 week MA | $33.5 | 4.6% below |
| 50 week MA | $33.0 | 3.1% below |
| 100 week MA | $28.5 | 12% above |
| 200 week MA | $23.7 | 35% above |
BSAC has pulled back, but its long-term trend is still up: it's below its 8-, 20- and 50-week averages, but 35% above 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 BSAC on trend strength, trading above more of its moving averages.
BSAC Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $23.2 | $19.5 | -16% |
| 2021 | $19.5 | $16.2 | -17% |
| 2022 | $16.2 | $15.5 | -4.7% |
| 2023 | $15.5 | $19.5 | +26% |
| 2024 | $19.5 | $19.0 | -2.5% |
| 2025 | $19.0 | $31.7 | +67% |
| 2026 YTD | $31.7 | $32.0 | +0.9% |
BSAC has finished lower in four of the last six years. It's up 0.9% 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 BSAC on returns for 2026, with the stronger performance.