CBNK
Capital Bancorp, Inc.
CBNK offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
MS
Morgan Stanley
MS has the edge over CBNK overall, supported by stronger modeled upside and stronger valuation.
CBNK Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| N/A | |
| N/A |
CBNK'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 CBNK.
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.
CBNK PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 7.8x | $25.86 | -38% |
| Fair | 9.1x | $30.16 | -28% |
| Forward | 11x | $41.97 | — |
| Expensive | 12x | $38.55 | -8.1% |
| Current | 13x | $41.97 | — |
Historical ranges are pointers, not guarantees.
CBNK 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.
CBNK Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for CBNK, 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.
CBNK Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $3.81 | +15% |
| Q3 2026 | $3.32 | +13% |
| Q2 2026 | $3.41 | +28% |
| Q1 2026 | $3.32 | +34% |
| Q4 2025 | $3.41 | +61% |
| Q3 2025 | $2.93 | +26% |
| Q2 2025 | $2.66 | +10% |
| Q1 2025 | $2.47 | +5.6% |
| Q4 2024 | $2.12 | -17% |
CBNK earned $3.32 per share over the past year, up 13% 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 CBNK on earnings, with more consistent year-over-year improvement.
CBNK Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $68.1M | +8% |
| Q2 2026 | $65.3M | +7.5% |
| Q1 2026 | $62.8M | +7.1% |
| Q4 2025 | $62.7M | +12% |
| Q3 2025 | $63.1M | +40% |
| Q2 2025 | $60.8M | +38% |
| Q1 2025 | $58.6M | +43% |
| Q4 2024 | $56.2M | +38% |
CBNK has the edge over MS on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 26% | +27 points |
| Q2 2026 | 28% | +30 points |
| Q1 2026 | 25% | +27 points |
| Q4 2025 | 31% | +33 points |
| Q3 2025 | -1.5% | +0.8 points |
| Q2 2025 | -1.5% | +0.2 points |
| Q1 2025 | -1.5% | +0.7 points |
| Q4 2024 | -1.8% | -29 points |
CBNK's operating margin was 26% last quarter, up 27 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 CBNK on profitability, with a higher operating margin.
CBNK Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $35.4M | +7.7% |
| Q2 2026 | -$5M | -$819K |
| Q1 2026 | $21.8M | -3.6% |
| Q4 2025 | $18.5M | -29% |
| Q3 2025 | $32.9M | +$33.4M |
| Q2 2025 | -$4.2M | -133% |
| Q1 2025 | $22.6M | +$26M |
| Q4 2024 | $25.9M | +318% |
CBNK 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.
CBNK Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.7% | +109K shares |
| 1 year | -2.1% | -362K shares |
| 3 years | +18% | +2.5M shares |
| 5 years | +16% | +2.3M shares |
| Available history | +18% | +2.5M shares |
CBNK has the edge over MS on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | $36,000 |
| Q1 2026 | $3.6M |
| Q4 2025 | $8.6M |
| Q3 2025 | $312,000 |
| Q2 2025 | $2.9M |
| Q1 2025 | $618,000 |
| Q4 2024 | — |
CBNK spent $12M buying back its own shares over the past year, about three times what it spent 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.
CBNK Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.2x | Net Cash |
| Q2 2026 | -0.4x | Net Cash |
| Q1 2026 | -0.5x | Net Cash |
| Q4 2025 | -1.5x | Net Cash |
| Q3 2024 | -1.3x | Net Cash |
| Q2 2024 | -0.3x | Net Cash |
| Q1 2024 | -0.0x | Net Cash |
| Q4 2023 | 0.3x | Very low |
CBNK 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.
CBNK Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 69.7 | Neutral |
| Stochastic | 78.3 | Neutral |
CBNK's weekly RSI is 70 (neutral) and its Stochastic is 78 (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).
CBNK PE vs Financial Services Sector
| Metric | CBNK | Sector median | Relative |
|---|---|---|---|
| PE | 13x | 13x | 2.9% below |
| PE % | 90 | 63 | 27 pts above |
CBNK 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.
CBNK Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $40.3 | 4.3% above |
| 20 week MA | $38.0 | 11% above |
| 50 week MA | $33.6 | 25% above |
| 100 week MA | $32.1 | 31% above |
| 200 week MA | $26.7 | 57% above |
CBNK 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.
CBNK Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $14.7 | $13.6 | -7.2% |
| 2021 | $13.6 | $26.1 | +91% |
| 2022 | $26.1 | $23.7 | -9.3% |
| 2023 | $23.7 | $24.2 | +2.3% |
| 2024 | $24.2 | $28.6 | +18% |
| 2025 | $28.6 | $28.5 | -0.4% |
| 2026 YTD | $28.5 | $42.0 | +47% |
CBNK 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.