CHCO
City Holding Company
CHCO's outlook is improving, though it still trails on the overall score.
MS
Morgan Stanley
MS has the edge over CHCO overall, supported by stronger fundamentals and stronger modeled upside.
CHCO Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| N/A | |
| N/A |
CHCO'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 CHCO.
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.
CHCO PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 13x | $116 | -18% |
| Fair | 14x | $130 | -8.5% |
| Expensive | 15x | $141 | -1% |
| Forward | 15x | $142 | — |
| Current | 16x | $142 | — |
Historical ranges are pointers, not guarantees.
CHCO 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.
CHCO Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Growth | |
| Stable | |
| Improving | |
| Limited | |
| High |
Analysts expect CHCO's earnings to grow and its profitability to improve, with its revenue holding steady.
MS Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| Moderate |
MS has the edge over CHCO on the outlook, with more favorable valuation and revenue expectations.
CHCO Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $9.53 | +4.2% |
| Q3 2026 | $9.15 | +5.2% |
| Q2 2026 | $9.13 | +9.9% |
| Q1 2026 | $9.07 | +14% |
| Q4 2025 | $8.93 | +13% |
| Q3 2025 | $8.70 | +12% |
| Q2 2025 | $8.31 | +7.2% |
| Q1 2025 | $7.98 | +0.4% |
| Q4 2024 | $7.89 | +3.7% |
CHCO's earnings per share have climbed steadily: $9.15 over the past year, up 5.2% from the year before, and higher year over year for eight 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 CHCO on earnings, with stronger typical year-over-year growth.
CHCO Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $84M | +3.4% |
| Q2 2026 | $81.5M | +4.3% |
| Q1 2026 | $79.2M | +6.3% |
| Q4 2025 | $80.2M | +12% |
| Q3 2025 | $81.3M | +7% |
| Q2 2025 | $78.2M | +6.3% |
| Q1 2025 | $74.6M | +3% |
| Q4 2024 | $71.7M | +4.1% |
CHCO's revenue has grown year over year for nine quarters in a row: $84M last quarter, up 3.4% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 51% | -2.5 points |
| Q2 2026 | 51% | -2 points |
| Q1 2026 | 50% | 0 points |
| Q4 2025 | 49% | +1.2 points |
| Q3 2025 | 54% | +5.1 points |
| Q2 2025 | 53% | +3.3 points |
| Q1 2025 | 50% | -1.1 points |
| Q4 2024 | 48% | -1.4 points |
CHCO 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 CHCO 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's operating margin was 32% last quarter, down 1.2 points from the same quarter a year ago.
CHCO Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $35.1M | -1.8% |
| Q2 2026 | $31.8M | +14% |
| Q1 2026 | $37.3M | +19% |
| Q4 2025 | $33.6M | +2.4% |
| Q3 2025 | $35.8M | -3.4% |
| Q2 2025 | $27.8M | +0.1% |
| Q1 2025 | $31.3M | -1% |
| Q4 2024 | $32.8M | -0.5% |
CHCO 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.
CHCO Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.1% | -13K shares |
| 1 year | -2.9% | -414K shares |
| 3 years | -6% | -896K shares |
| 5 years | -8.2% | -1.3M shares |
| Available history | -13% | -2.2M shares |
CHCO has the edge over MS on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | $7.3M |
| Q1 2026 | $30.9M |
| Q4 2025 | $16.9M |
| Q3 2025 | — |
| Q2 2025 | $19.4M |
| Q1 2025 | $9.5M |
| Q4 2024 | — |
CHCO spent $55M buying back its own shares over the past year, up 90% 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.
CHCO Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.3x | Net Cash |
| Q2 2026 | -0.7x | Net Cash |
| Q1 2026 | -0.9x | Net Cash |
| Q4 2025 | -0.3x | Net Cash |
| Q3 2025 | -0.5x | Net Cash |
| Q2 2025 | -0.1x | Net Cash |
| Q1 2025 | -1.6x | Net Cash |
| Q4 2024 | -0.5x | Net Cash |
CHCO 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.
CHCO Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 58.4 | Neutral |
| Stochastic | 38.6 | Neutral |
CHCO's weekly RSI is 58 (neutral) and its Stochastic is 39 (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).
CHCO PE vs Financial Services Sector
| Metric | CHCO | Sector median | Relative |
|---|---|---|---|
| PE | 16x | 13x | 19% above |
| PE % | 86 | 63 | 23 pts above |
CHCO is trading at 16x earnings, a 19% 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 CHCO on valuation relative to its sector.
CHCO Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $141.8 | 0.1% above |
| 20 week MA | $141.8 | 0.1% above |
| 50 week MA | $131.0 | 8.4% above |
| 100 week MA | $125.7 | 13% above |
| 200 week MA | $114.2 | 24% above |
CHCO 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.
CHCO Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $82.3 | $69.5 | -16% |
| 2021 | $69.5 | $81.2 | +17% |
| 2022 | $81.2 | $93.5 | +15% |
| 2023 | $93.5 | $110.3 | +18% |
| 2024 | $110.3 | $121.1 | +9.8% |
| 2025 | $121.1 | $123.8 | +2.3% |
| 2026 YTD | $123.8 | $142.0 | +15% |
CHCO 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.