FRBA
First Bank
FRBA's outlook is improving, though it still trails on the overall score.
MS
Morgan Stanley
MS has the edge over FRBA overall, supported by stronger modeled upside and stronger fundamentals.
FRBA Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| N/A | |
| N/A |
FRBA'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 FRBA.
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.
FRBA PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 8x | $13.52 | -32% |
| Fair | 10x | $17.16 | -13% |
| Forward | 10x | $19.77 | — |
| Current | 12x | $19.77 | — |
| Expensive | 13x | $21.30 | +7.7% |
Historical ranges are pointers, not guarantees.
FRBA 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.
FRBA Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Stable | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for FRBA, with profitability holding steady.
MS Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| Moderate |
MS has the edge over FRBA on the outlook, with more favorable profitability expectations.
FRBA Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.92 | +13% |
| Q2 2026 | $1.69 | +12% |
| Q1 2026 | $1.67 | +8.4% |
| Q4 2025 | $1.74 | +4.2% |
| Q3 2025 | $1.66 | +4.4% |
| Q2 2025 | $1.51 | +24% |
| Q1 2025 | $1.54 | +36% |
| Q4 2024 | $1.67 | +69% |
| Q3 2024 | $1.59 | +42% |
FRBA's earnings per share have climbed steadily: $1.69 over the past year, up 12% 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 FRBA on earnings, with stronger typical year-over-year growth.
FRBA Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $59.4M | -4% |
| Q1 2026 | $58.2M | +0.8% |
| Q4 2025 | $64.5M | +9.4% |
| Q3 2025 | $63.6M | +8.4% |
| Q2 2025 | $61.9M | +10% |
| Q1 2025 | $57.8M | +4% |
| Q4 2024 | $59M | +18% |
| Q3 2024 | $58.6M | +17% |
FRBA's revenue has held roughly level: $59M last quarter, down 4% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 25% | +3.1 points |
| Q1 2026 | 17% | -4 points |
| Q4 2025 | 26% | +1.3 points |
| Q3 2025 | 24% | +3 points |
| Q2 2025 | 21% | -2 points |
| Q1 2025 | 21% | -6.3 points |
| Q4 2024 | 24% | +3.8 points |
| Q3 2024 | 21% | +24 points |
FRBA's operating margin was 25% last quarter, up 3.1 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 has the edge over FRBA on sales, with more consistent year-over-year improvement.
| 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 FRBA on profitability, with a higher operating margin.
FRBA Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $7.4M | -29% |
| Q1 2026 | $10.7M | -45% |
| Q4 2025 | $16.3M | +$29.1M |
| Q3 2025 | $16.3M | +$18.1M |
| Q2 2025 | $10.4M | -65% |
| Q1 2025 | $19.6M | +101% |
| Q4 2024 | -$12.8M | -133% |
| Q3 2024 | -$1.8M | -102% |
FRBA 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.
FRBA Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.5% | -125K shares |
| 1 year | -0.6% | -159K shares |
| 3 years | +29% | +5.6M shares |
| 5 years | +26% | +5.2M shares |
| Available history | +32% | +6.1M shares |
FRBA has 25M diluted shares, down 0.6% from a year ago, with $7M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q2 2026 | $5M |
| Q1 2026 | $521,000 |
| Q4 2025 | — |
| Q3 2025 | $1.8M |
| Q2 2025 | $2.8M |
| Q1 2025 | $3.9M |
| Q4 2024 | $1.3M |
| Q3 2024 | — |
FRBA spent $7M buying back its own shares over the past year, down 8.9% 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 the edge over FRBA on shareholder dilution, with a more favorable share count trend.
FRBA Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 4.0x | High |
| Q1 2026 | -0.9x | Net Cash |
| Q4 2025 | -0.5x | Net Cash |
| Q3 2025 | 0.4x | Very low |
| Q2 2025 | 1.0x | Very low |
| Q1 2025 | 0.6x | Very low |
| Q4 2024 | 0.3x | Very low |
| Q3 2024 | -0.7x | Net Cash |
FRBA 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.
FRBA Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 68.5 | Neutral |
| Stochastic | 70.1 | Neutral |
FRBA's weekly RSI is 68 (neutral) and its Stochastic is 70 (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).
FRBA PE vs Financial Services Sector
| Metric | FRBA | Sector median | Relative |
|---|---|---|---|
| PE | 12x | 13x | 10% below |
| PE % | 70 | 63 | 7 pts above |
FRBA 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.
FRBA Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $18.6 | 6.1% above |
| 20 week MA | $18.3 | 8% above |
| 50 week MA | $17.1 | 16% above |
| 100 week MA | $16.1 | 23% above |
| 200 week MA | $14.4 | 37% above |
FRBA 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.
FRBA Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $11.0 | $9.52 | -13% |
| 2021 | $9.52 | $14.2 | +50% |
| 2022 | $14.2 | $14.0 | -1.7% |
| 2023 | $14.0 | $14.7 | +5% |
| 2024 | $14.7 | $14.0 | -4.7% |
| 2025 | $14.0 | $16.8 | +20% |
| 2026 YTD | $16.8 | $19.8 | +18% |
FRBA 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.