FBP
First BanCorp.
FBP's outlook is improving, though it still trails on the overall score.
MS
Morgan Stanley
MS has the edge over FBP overall, supported by stronger modeled upside and stronger fundamentals.
FBP Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| N/A | |
| N/A |
FBP'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 FBP.
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.
FBP PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 9.1x | $21.53 | -17% |
| Fair | 10x | $24.46 | -6.3% |
| Current | 11x | $26.09 | — |
| Forward | 11x | $26.09 | — |
| Expensive | 12x | $27.42 | +5.1% |
Historical ranges are pointers, not guarantees.
FBP 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.
FBP Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Growth | |
| Stable | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect FBP'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 FBP on the outlook, with more favorable valuation and revenue expectations.
FBP Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.43 | +2.4% |
| Q3 2026 | $2.37 | +15% |
| Q2 2026 | $2.37 | +26% |
| Q1 2026 | $2.25 | +22% |
| Q4 2025 | $2.15 | +19% |
| Q3 2025 | $2.06 | +13% |
| Q2 2025 | $1.88 | +2.7% |
| Q1 2025 | $1.84 | +4.5% |
| Q4 2024 | $1.81 | +5.8% |
FBP's earnings per share have climbed steadily: $2.37 over the past year, up 15% from the year before, and higher year over year every quarter since late 2023.
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 FBP on earnings, with stronger typical year-over-year growth.
FBP Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $260.1M | +4.6% |
| Q2 2026 | $264.9M | +7.3% |
| Q1 2026 | $258.6M | +4.2% |
| Q4 2025 | $257.2M | +6.5% |
| Q3 2025 | $248.7M | +6% |
| Q2 2025 | $246.8M | +6.5% |
| Q1 2025 | $248.1M | +7.6% |
| Q4 2024 | $241.5M | +4.9% |
FBP's revenue has grown year over year for nine quarters in a row: $260M last quarter, up 4.6% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 44% | +1.6 points |
| Q2 2026 | 45% | +3.7 points |
| Q1 2026 | 44% | +3.8 points |
| Q4 2025 | 42% | +2 points |
| Q3 2025 | 43% | +1.6 points |
| Q2 2025 | 42% | -2.1 points |
| Q1 2025 | 40% | -1.8 points |
| Q4 2024 | 40% | +2.9 points |
FBP 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 FBP 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.
FBP Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $101.2M | -25% |
| Q2 2026 | $87.2M | -6.1% |
| Q1 2026 | $115.9M | +8.6% |
| Q4 2025 | $103.2M | +8.4% |
| Q3 2025 | $134.8M | +17% |
| Q2 2025 | $92.8M | +34% |
| Q1 2025 | $106.7M | -6.5% |
| Q4 2024 | $95.2M | +24% |
FBP 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.
FBP Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.4% | -2.2M shares |
| 1 year | -5.1% | -8.1M shares |
| 3 years | -14% | -25M shares |
FBP has the edge over MS on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $50M |
| Q2 2026 | $50.3M |
| Q1 2026 | $54.6M |
| Q4 2025 | $50M |
| Q3 2025 | $50.1M |
| Q2 2025 | $28.7M |
| Q1 2025 | $24.9M |
| Q4 2024 | $24,000 |
FBP spent $205M buying back its own shares over the past year, up 98% 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.
FBP Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.5x | Net Cash |
| Q2 2026 | -0.8x | Net Cash |
| Q1 2026 | -0.6x | Net Cash |
| Q4 2025 | -0.8x | Net Cash |
| Q3 2025 | -1.4x | Net Cash |
| Q2 2025 | -1.0x | Net Cash |
| Q1 2025 | -2.4x | Net Cash |
| Q4 2024 | -1.4x | Net Cash |
FBP 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.
FBP Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 48.2 | Neutral |
| Stochastic | 6.7 | Oversold |
FBP's weekly RSI is 48 (neutral) and its Stochastic is 7 (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).
FBP PE vs Financial Services Sector
| Metric | FBP | Sector median | Relative |
|---|---|---|---|
| PE | 11x | 13x | 15% below |
| PE % | 67 | 63 | 4 pts above |
FBP 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.
FBP Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $26.7 | 2.4% below |
| 20 week MA | $27.5 | 5.3% below |
| 50 week MA | $24.5 | 6.4% above |
| 100 week MA | $22.4 | 17% above |
| 200 week MA | $19.2 | 36% above |
FBP has pulled back, but its long-term trend is still up: it's below its 8- and 20-week averages, but 36% 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's trend is mixed: it's above three of its five weekly moving averages, and 46% above its 200-week average.
FBP Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $10.6 | $9.13 | -14% |
| 2021 | $9.13 | $13.6 | +49% |
| 2022 | $13.6 | $12.8 | -5.7% |
| 2023 | $12.8 | $16.5 | +28% |
| 2024 | $16.5 | $18.7 | +14% |
| 2025 | $18.7 | $21.2 | +13% |
| 2026 YTD | $21.2 | $26.1 | +23% |
FBP 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.