MS
Morgan Stanley
MS has the edge over NAVI overall, supported by stronger valuation and stronger modeled upside.
NAVI
Navient Corporation
NAVI trails on the overall score without a compensating advantage in the available component scores.
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.
NAVI Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| N/A | |
| N/A |
NAVI's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like NAVI.
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 has the edge over NAVI in the historical PE scenario, which offers more potential upside but is not a forecast.
NAVI PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 4.1x | $2.19 | -64% |
| Fair | 5.5x | $2.99 | -51% |
| Forward | 8.7x | $6.14 | — |
| Expensive | 11x | $5.99 | -2.5% |
| Current | 11x | $6.14 | — |
Historical ranges are pointers, not guarantees.
NAVI's PE is in its expensive range at 11x. On analysts' estimates for next year's earnings, today's price would be 8.7x.
MS Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| Moderate |
MS has the edge over NAVI on the outlook, with more favorable earnings and revenue expectations.
NAVI Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Decline | |
| Stable | |
| Strongly weakening | |
| Limited | |
| Low |
Analysts expect NAVI's earnings and profitability to decline, with its revenue holding steady. However, they disagree widely on these estimates.
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 NAVI on earnings, with more consistent year-over-year improvement.
NAVI Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.71 | +31% |
| Q3 2026 | $0.54 | +$1.06 |
| Q2 2026 | -$0.49 | -248% |
| Q1 2026 | -$0.62 | -219% |
| Q4 2025 | -$0.81 | -169% |
| Q3 2025 | -$0.52 | -168% |
| Q2 2025 | $0.33 | -77% |
| Q1 2025 | $0.52 | -68% |
| Q4 2024 | $1.18 | -36% |
NAVI has returned to profit: it earned $0.54 per share over the past year, after losing money the year before.
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 NAVI 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 NAVI on profitability, with a higher operating margin.
NAVI Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $317M | +97% |
| Q2 2026 | $150M | -3.8% |
| Q1 2026 | $152M | -2.6% |
| Q4 2025 | $137M | -39% |
| Q3 2025 | $161M | -59% |
| Q2 2025 | $156M | -37% |
| Q1 2025 | $156M | -46% |
| Q4 2024 | $223M | +0.5% |
NAVI's revenue is recovering but still below its 2021 peak: $317M last quarter, up 97% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 4.1% | +77 points |
| Q2 2026 | 26% | +15 points |
| Q1 2026 | 21% | +24 points |
| Q4 2025 | -5.1% | -17 points |
| Q3 2025 | -73% | -76 points |
| Q2 2025 | 12% | -7.9 points |
| Q1 2025 | -3.2% | -34 points |
| Q4 2024 | 12% | +28 points |
NAVI's operating margin was 4.1% last quarter, up 77 points from the same quarter a year ago.
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.
NAVI Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $143M | +13% |
| Q1 2026 | -$47M | -166% |
| Q4 2025 | $174M | +2075% |
| Q3 2025 | $70M | +$80M |
| Q2 2025 | $126M | -55% |
| Q1 2025 | $71M | -61% |
| Q4 2024 | $8M | -97% |
| Q3 2024 | -$10M | -108% |
NAVI has the edge over MS on cash generation, producing positive trailing cash flow while its opponent burns cash.
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.
NAVI Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.1% | -1M shares |
| 1 year | -4.1% | -4M shares |
| 3 years | -22% | -27M shares |
| 5 years | -44% | -73M shares |
| Available history | -60% | -139M shares |
NAVI has the edge over MS on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q2 2026 | $3M |
| Q1 2026 | $23M |
| Q4 2025 | $26M |
| Q3 2025 | $26M |
| Q2 2025 | $24M |
| Q1 2025 | $35M |
| Q4 2024 | $65M |
| Q3 2024 | $33M |
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.
NAVI Net Leverage
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).
NAVI Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 29.4 | Oversold |
| Stochastic | 29.1 | Neutral |
NAVI's weekly RSI is 29 (oversold) and its Stochastic is 29 (neutral).
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.
NAVI PE vs Financial Services Sector
| Metric | NAVI | Sector median | Relative |
|---|---|---|---|
| PE | 11x | 13x | 13% below |
| PE % | 85 | 63 | 22 pts above |
NAVI has the edge over MS on valuation relative to its sector.
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 NAVI on trend strength, trading above more of its moving averages.
NAVI Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $8.63 | 29% below |
| 20 week MA | $8.85 | 31% below |
| 50 week MA | $9.36 | 34% below |
| 100 week MA | $11.3 | 45% below |
| 200 week MA | $13.9 | 56% below |
NAVI is in a downtrend: it's below all five of its weekly moving averages, and 56% below its 200-week average.
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 NAVI on returns for 2026, with the stronger performance.
NAVI Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $13.7 | $9.77 | -29% |
| 2021 | $9.77 | $21.7 | +122% |
| 2022 | $21.7 | $16.5 | -24% |
| 2023 | $16.5 | $18.6 | +13% |
| 2024 | $18.6 | $13.1 | -30% |
| 2025 | $13.1 | $12.9 | -0.8% |
| 2026 YTD | $12.9 | $6.14 | -53% |
NAVI has finished lower in four of the last six years. It's down 53% so far in 2026.