BTGO
BitGo Holdings, Inc.
There isn't enough reported data to score BTGO yet.
MS
Morgan Stanley
MS's fundamentals are strong: revenue grew 16% and earnings per share grew 29%. At 15x earnings, it's trading in line with its usual 14x. Analysts expect earnings growth.
BTGO Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Under pressure | |
| N/A | |
| N/A |
BTGO's revenue is currently healthy, but its profitability is under pressure. Free cash flow and net leverage aren't meaningful measures for financial services companies like BTGO.
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.
BTGO PE Valuation
BTGO 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.
BTGO Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Stable | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect BTGO's losses to shrink, with revenue holding steady. However, they disagree widely on these estimates.
MS Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| Moderate |
MS has the edge over BTGO on the outlook, with more favorable revenue expectations.
BTGO Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$0.61 | -164% |
| Q2 2026 | -$0.92 | -210% |
BTGO has swung to a loss: it lost $0.61 per share over the past year, after a profit 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 BTGO in the latest year-over-year earnings comparison.
BTGO Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $2.9B | -51% |
| Q2 2026 | $4.3B | +107% |
| Q1 2026 | $3.8B | +80% |
| Q4 2025 | $6.2B | +440% |
| Q3 2025 | $5.8B | +610% |
BTGO's revenue is growing: $2.9B last quarter, down 51% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -0.7% | -0.7 points |
| Q2 2026 | -0.7% | -0.6 points |
| Q1 2026 | -1.8% | -1.8 points |
| Q4 2025 | 0.1% | +0.1 points |
| Q3 2025 | 0.1% | +0.3 points |
| Q2 2025 | 0% | N/A |
| Q1 2025 | 0% | N/A |
| Q4 2024 | 0% | N/A |
BTGO's operating margin was −0.7% last quarter, down 0.7 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 BTGO on profitability, with a higher operating margin.
BTGO Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$20.7M | -319% |
| Q2 2026 | -$517K | +$18.2M |
| Q1 2026 | -$35.7M | -742% |
| Q4 2025 | $19.4M | +1956% |
| Q3 2025 | $9.5M | +1920% |
BTGO has the edge over MS on cash flow, with more consistent year-over-year improvement.
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.
BTGO Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +12% | +13M shares |
| 1 year | +4.2% | +4.8M shares |
BTGO has 120M diluted shares, up 4.2% from a year ago.
| Quarter | Spent |
|---|---|
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
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 BTGO on shareholder dilution, with a more favorable share count trend.
BTGO Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2025 | -12.7x | Net Cash |
| Q2 2025 | 0.1x | Very low |
BTGO has more cash than debt. Net leverage isn't a meaningful measure for financial services companies like BTGO.
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.
BTGO Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 27.9 | Oversold |
| Stochastic | 11.2 | Oversold |
BTGO's weekly RSI is 28 (oversold) and its Stochastic is 11 (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).
BTGO PE vs Financial Services Sector
BTGO 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.
BTGO Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $5.98 | 32% below |
| 20 week MA | $5.98 | 32% below |
MS has stronger trend alignment. BTGO is above 0 of 2 weekly averages versus MS above 3 of 5.
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.
BTGO Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2026 YTD | $14.5 | $4.09 | -72% |
It's down 72% 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 BTGO on returns for 2026, with the stronger performance.