LMND
Lemonade, Inc.
There isn't enough reported data to score LMND 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.
LMND Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Under pressure | |
| N/A | |
| N/A |
LMND's revenue is currently strong, but its profitability is under pressure. Free cash flow and net leverage aren't meaningful measures for financial services companies like LMND.
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.
LMND PE Valuation
LMND 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.
LMND Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect LMND's losses to shrink, 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.
LMND Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$1.86 | +$0.53 |
| Q2 2026 | -$1.81 | +$1.02 |
| Q1 2026 | -$1.85 | +$1.19 |
| Q4 2025 | -$2.24 | +$0.61 |
| Q3 2025 | -$2.39 | +$0.64 |
| Q2 2025 | -$2.83 | +$0.13 |
| Q1 2025 | -$3.04 | +$0.08 |
| Q4 2024 | -$2.85 | +$0.55 |
LMND is still losing money, but far less than before: $1.86 per share over the past year, against $4.83 at its worst in late 2022.
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 LMND on earnings quality, reporting a profit while its opponent remains loss making.
LMND Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $336.1M | +73% |
| Q2 2026 | $294.4M | +79% |
| Q1 2026 | $258M | +71% |
| Q4 2025 | $228.1M | +53% |
| Q3 2025 | $194.5M | +42% |
| Q2 2025 | $164.1M | +35% |
| Q1 2025 | $151.2M | +27% |
| Q4 2024 | $148.8M | +29% |
LMND has the edge over MS on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -13% | +5.8 points |
| Q2 2026 | -14% | +12 points |
| Q1 2026 | -13% | +27 points |
| Q4 2025 | -9% | +16 points |
| Q3 2025 | -19% | +30 points |
| Q2 2025 | -26% | +19 points |
| Q1 2025 | -41% | -2.7 points |
| Q4 2024 | -25% | +8.9 points |
LMND's operating margin was −13% last quarter, up 5.8 points from the same quarter a year ago, near the top of its range since 2019.
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 has the edge over LMND on profitability, with a higher operating margin.
LMND Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $1.9M | -27% |
| Q2 2026 | -$8M | -335% |
| Q1 2026 | -$4.1M | +$45.4M |
| Q4 2025 | $17.6M | +66% |
| Q3 2025 | $2.6M | -82% |
| Q2 2025 | $3.4M | +$16.6M |
| Q1 2025 | -$49.5M | -$17.2M |
| Q4 2024 | $10.6M | +$29.1M |
LMND 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.
LMND Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.7% | +561K shares |
| 1 year | +4.5% | +3.4M shares |
| 3 years | +11% | +7.8M shares |
| 5 years | +26% | +16M shares |
| Available history | +78% | +33.9M shares |
LMND has 78M diluted shares, up 4.5% from a year ago.
| Quarter | Spent |
|---|---|
| Q1 2020 | — |
| Q4 2019 | — |
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 LMND on shareholder dilution, with a more favorable share count trend.
LMND Net Leverage
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.
LMND Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 40.1 | Neutral |
| Stochastic | 9.9 | Oversold |
LMND's weekly RSI is 40 (neutral) and its Stochastic is 10 (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).
LMND PE vs Financial Services Sector
LMND 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.
LMND Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $44.1 | 2.5% below |
| 20 week MA | $51.6 | 17% below |
| 50 week MA | $60.0 | 28% below |
| 100 week MA | $51.5 | 17% below |
| 200 week MA | $34.7 | 24% above |
LMND has fallen below most of its moving averages, though it's still 24% 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 LMND on trend strength, trading above more of its moving averages.
LMND Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $69.4 | $125.1 | +80% |
| 2021 | $125.1 | $45.7 | -64% |
| 2022 | $45.7 | $14.4 | -68% |
| 2023 | $14.4 | $16.1 | +12% |
| 2024 | $16.1 | $39.4 | +144% |
| 2025 | $39.4 | $74.7 | +90% |
| 2026 YTD | $74.7 | $43.0 | -42% |
LMND's yearly returns have swung widely, from +144% in 2024 to −68% in 2022. It's down 42% 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 LMND on returns for 2026, with the stronger performance.