HUT
Hut 8 Corp.
There isn't enough reported data to score HUT yet.
MS
Morgan Stanley
MS's fundamentals are strong: revenue grew 16% and earnings per share grew 29%. At 15x earnings, it's trading in line with its usual 14x. Analysts expect earnings growth.
HUT Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Weak | |
| N/A | |
| N/A |
HUT's revenue is currently healthy, but its profitability is weak. Free cash flow and net leverage aren't meaningful measures for financial services companies like HUT.
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.
HUT PE Valuation
HUT has no meaningful PE right now: it lost money over the past year.
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.
HUT Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses growing | |
| Strong growth | |
| -- | |
| Limited | |
| Low |
Analysts expect HUT's losses to grow, with revenue growing. However, they disagree widely on these estimates.
MS Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for MS, with profitability improving.
HUT Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$4.72 | -374% |
| Q2 2026 | -$5.27 | -505% |
| Q1 2026 | -$2.82 | -$2.16 |
| Q4 2025 | -$2.14 | -163% |
| Q2 2022 | -$1.92 | -242% |
| Q1 2022 | -$0.28 | -118% |
| Q4 2021 | $0.35 | -45% |
| Q3 2021 | $1.37 | +$2.22 |
HUT has swung to a loss: it lost $4.72 per share over the past year, after a profit 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 HUT on earnings quality, reporting a profit while its opponent remains loss making.
HUT Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $71.1M | -15% |
| Q2 2026 | $74.9M | +81% |
| Q1 2026 | $71M | +226% |
| Q4 2025 | $88.5M | +179% |
| Q3 2025 | $83.5M | +91% |
| Q2 2025 | $41.3M | +17% |
| Q1 2025 | $21.8M | -58% |
| Q3 2024 | $43.7M | +102% |
HUT's revenue is growing: $71M last quarter, down 15% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 448% | +361 points |
| Q2 2026 | -275% | -730 points |
| Q1 2026 | -522% | +155 points |
| Q4 2025 | -491% | -1381 points |
| Q3 2025 | 87% | +91 points |
| Q2 2025 | 455% | +701 points |
| Q1 2025 | -677% | -1193 points |
| Q4 2024 | 889% | +893 points |
HUT 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'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's operating margin was 32% last quarter, down 1.2 points from the same quarter a year ago.
HUT Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $27.8M | +3512% |
| Q2 2026 | -$5.6M | +$43.2M |
| Q1 2026 | -$27.2M | +$6.6M |
| Q4 2025 | -$57.4M | -$35.7M |
| Q3 2025 | $770K | +$5M |
| Q2 2025 | -$48.8M | -$32.4M |
| Q1 2025 | -$33.8M | -$7.5M |
| Q3 2024 | -$4.2M | -291% |
HUT has the edge over MS on cash flow, with more consistent year-over-year improvement.
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.
HUT Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +13% | +15.5M shares |
| 1 year | +10% | +12.2M shares |
| 3 years | +217% | +91.7M shares |
| 5 years | +575% | +114M shares |
| Available history | +746% | +118M shares |
HUT has 134M diluted shares, up 10% from a year ago.
| Quarter | Spent |
|---|---|
| Q1 2023 | — |
| Q4 2022 | — |
| Q3 2022 | — |
| Q2 2022 | — |
| Q1 2022 | — |
| Q4 2021 | — |
| Q3 2021 | — |
| Q2 2021 | — |
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 HUT on shareholder dilution, with a more favorable share count trend.
HUT Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2025 | -0.1x | Net Cash |
| Q2 2025 | -0.6x | Net Cash |
| Q1 2025 | -1.1x | Net Cash |
| Q4 2024 | 0.4x | Very low |
| Q1 2023 | 8.0x | High |
| Q4 2022 | 2.4x | Moderate |
| Q3 2022 | 0.3x | Very low |
| Q2 2022 | -0.3x | Net Cash |
HUT has more cash than debt. Net leverage isn't a meaningful measure for financial services companies like HUT.
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.
HUT Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 40.3 | Neutral |
| Stochastic | 15.8 | Oversold |
HUT's weekly RSI is 40 (neutral) and its Stochastic is 16 (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).
HUT PE vs Financial Services Sector
| Metric | HUT | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 13x | — |
HUT has no meaningful PE right now: it lost money over the past year.
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.
HUT Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $71.7 | 14% below |
| 20 week MA | $85.4 | 27% below |
| 50 week MA | $76.6 | 19% below |
| 100 week MA | $50.3 | 23% above |
| 200 week MA | $31.1 | 99% above |
HUT has pulled back, but its long-term trend is still up: it's below its 8-, 20- and 50-week averages, but 99% 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 has the edge over HUT on trend strength, trading above more of its moving averages.
HUT Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $3.78 | $12.7 | +236% |
| 2021 | $12.7 | $43.8 | +244% |
| 2022 | $43.8 | $4.32 | -90% |
| 2023 | $4.32 | $13.3 | +209% |
| 2024 | $13.3 | $22.3 | +67% |
| 2025 | $22.3 | $49.6 | +122% |
| 2026 YTD | $49.6 | $62.0 | +25% |
HUT 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.