FNB
F.N.B. Corporation
FNB offers stronger valuation, but that advantage does not outweigh its weaker overall profile.
MS
Morgan Stanley
MS has a slight edge over FNB overall, supported by stronger modeled upside and stronger fundamentals.
FNB Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| N/A | |
| N/A |
FNB'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 FNB.
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.
FNB PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 8.1x | $13.76 | -24% |
| Forward | 9.7x | $18.10 | — |
| Fair | 11x | $18.38 | +1.6% |
| Current | 11x | $18.10 | — |
| Expensive | 12x | $21.08 | +16% |
Historical ranges are pointers, not guarantees.
FNB 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.
FNB Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for FNB, 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.
FNB Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.86 | +9.3% |
| Q3 2026 | $1.70 | +21% |
| Q2 2026 | $1.68 | +30% |
| Q1 2026 | $1.62 | +28% |
| Q4 2025 | $1.56 | +23% |
| Q3 2025 | $1.40 | +30% |
| Q2 2025 | $1.29 | +9.3% |
| Q1 2025 | $1.27 | +3.3% |
| Q4 2024 | $1.27 | -3.1% |
FNB earned $1.70 per share over the past year, up 21% 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 FNB on earnings, with more consistent year-over-year improvement.
FNB Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $469M | +2.6% |
| Q2 2026 | $463M | +5.5% |
| Q1 2026 | $450M | +9.5% |
| Q4 2025 | $458M | +23% |
| Q3 2025 | $457M | +11% |
| Q2 2025 | $439M | +8.7% |
| Q1 2025 | $411M | +1% |
| Q4 2024 | $373M | +10% |
FNB's revenue has grown year over year for nine quarters in a row: $469M last quarter, up 2.6% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 41% | -0.4 points |
| Q2 2026 | 41% | +2.8 points |
| Q1 2026 | 39% | +2.7 points |
| Q4 2025 | 36% | +8.7 points |
| Q3 2025 | 42% | +7.6 points |
| Q2 2025 | 38% | -1 points |
| Q1 2025 | 36% | -2.3 points |
| Q4 2024 | 27% | +9.9 points |
FNB 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 FNB 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.
FNB Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $250M | +68% |
| Q2 2026 | $241M | +184% |
| Q1 2026 | $133M | +209% |
| Q4 2025 | $99M | -64% |
| Q3 2025 | $149M | +$195M |
| Q2 2025 | $85M | +55% |
| Q1 2025 | $43M | -80% |
| Q4 2024 | $278M | +$315M |
FNB 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.
FNB Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.7% | -2.4M shares |
| 1 year | -1.9% | -6.7M shares |
| 3 years | -1.9% | -6.8M shares |
| 5 years | +9.9% | +32.1M shares |
| Available history | +8.9% | +28.9M shares |
FNB has the edge over MS on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $52M |
| Q2 2026 | $47M |
| Q1 2026 | $35M |
| Q4 2025 | $18M |
| Q3 2025 | $12M |
| Q2 2025 | $10M |
| Q1 2025 | $10M |
| Q4 2024 | — |
FNB spent $152M buying back its own shares over the past year, about five 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.
FNB Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 2.8x | Moderate |
| Q2 2026 | 2.9x | Moderate |
| Q1 2026 | 1.9x | Healthy |
| Q4 2025 | 1.9x | Healthy |
| Q3 2025 | 2.3x | Moderate |
| Q2 2025 | 3.4x | Elevated |
| Q1 2025 | 3.3x | Elevated |
| Q4 2024 | 3.0x | Moderate |
FNB 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.
FNB Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 51.2 | Neutral |
| Stochastic | 45.2 | Neutral |
FNB's weekly RSI is 51 (neutral) and its Stochastic is 45 (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).
FNB PE vs Financial Services Sector
| Metric | FNB | Sector median | Relative |
|---|---|---|---|
| PE | 11x | 13x | 18% below |
| PE % | 44 | 63 | 19 pts below |
FNB 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.
FNB Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $17.7 | 2.3% above |
| 20 week MA | $18.3 | 1.3% below |
| 50 week MA | $17.8 | 1.5% above |
| 100 week MA | $16.4 | 11% above |
| 200 week MA | $14.7 | 23% above |
FNB 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.
FNB Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $12.6 | $9.41 | -25% |
| 2021 | $9.41 | $12.0 | +27% |
| 2022 | $12.0 | $12.9 | +7.5% |
| 2023 | $12.9 | $13.8 | +6.9% |
| 2024 | $13.8 | $14.7 | +7% |
| 2025 | $14.7 | $17.6 | +19% |
| 2026 YTD | $17.6 | $18.1 | +3.1% |
FNB has finished higher in five of the last six years. It's up 3.1% 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 FNB on returns for 2026, with the stronger performance.