MS
Morgan Stanley
MS has a slight edge over NBBK overall, supported by stronger fundamentals and stronger modeled upside.
NBBK
NB Bancorp, Inc. Common Stock
NBBK offers stronger valuation, but that advantage does not outweigh its weaker overall profile.
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.
NBBK Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| N/A | |
| N/A |
NBBK's revenue and profitability are currently strong. Free cash flow and net leverage aren't meaningful measures for financial services companies like NBBK.
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.
NBBK PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 9.1x | $21.91 | — |
| Cheap | 13x | $22.08 | +0.8% |
| Current | 13x | $21.91 | — |
| Fair | 15x | $24.73 | +13% |
| Expensive | 17x | $28.92 | +32% |
Historical ranges are pointers, not guarantees.
NBBK has the edge over MS in the historical PE scenario, which offers more potential upside but is not a forecast.
MS Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for MS, with profitability improving.
NBBK Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for NBBK, with profitability improving.
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 NBBK on earnings, with stronger typical year-over-year growth.
NBBK Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.41 | +45% |
| Q3 2026 | $1.66 | +7.1% |
| Q2 2026 | $1.51 | +14% |
| Q1 2026 | $1.37 | +16% |
| Q4 2025 | $1.34 | +25% |
| Q3 2025 | $1.55 | +343% |
NBBK's earnings per share have climbed steadily: $1.66 over the past year, up 7.1% from the year before, and higher year over year every quarter since late 2025.
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.
NBBK Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $76.5M | +48% |
| Q2 2026 | $74.7M | +46% |
| Q1 2026 | $69.4M | +46% |
| Q4 2025 | $63.4M | +37% |
| Q3 2025 | $51.7M | +21% |
| Q2 2025 | $51.2M | +23% |
| Q1 2025 | $47.4M | +12% |
| Q4 2024 | $46.3M | +21% |
NBBK has the edge over MS on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 38% | -0.7 points |
| Q2 2026 | 37% | +0.2 points |
| Q1 2026 | 29% | -7.8 points |
| Q4 2025 | 23% | -18 points |
| Q3 2025 | 39% | +2.5 points |
| Q2 2025 | 37% | +8.2 points |
| Q1 2025 | 37% | +8.3 points |
| Q4 2024 | 42% | +95 points |
NBBK has the edge over MS on profitability, with a higher operating margin.
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.
NBBK Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $67.2M | +181% |
| Q2 2026 | $31.3M | +20% |
| Q1 2026 | $25.3M | +157% |
| Q4 2025 | -$2.5M | -113% |
| Q3 2025 | $23.9M | +155% |
| Q2 2025 | $26.1M | +9.4% |
| Q1 2025 | $9.8M | +$21.7M |
| Q4 2024 | $19.9M | +52% |
NBBK 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 the edge over NBBK on shareholder dilution, with a more favorable share count trend.
NBBK Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.4% | -166K shares |
| 1 year | +12% | +4.3M shares |
NBBK has 40M diluted shares, up 12% from a year ago, despite $46M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | $18.5M |
| Q1 2026 | $27.8M |
| Q4 2025 | — |
| Q3 2025 | $17.5M |
| Q2 2025 | $18.9M |
| Q1 2025 | $40.7M |
NBBK spent $46M buying back its own shares over the past year.
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.
NBBK 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).
NBBK Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 50.2 | Neutral |
| Stochastic | 36.6 | Neutral |
NBBK's weekly RSI is 50 (neutral) and its Stochastic is 37 (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.
NBBK PE vs Financial Services Sector
| Metric | NBBK | Sector median | Relative |
|---|---|---|---|
| PE | 13x | 13x | 1.4% above |
| PE % | 14 | 37 | 23 pts below |
NBBK 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 stronger trend alignment. MS is above 3 of 5 weekly averages versus NBBK above 2 of 4.
NBBK Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $22.3 | 1.7% below |
| 20 week MA | $22.3 | 1.7% below |
| 50 week MA | $21.4 | 2.6% above |
| 100 week MA | $19.7 | 11% above |
NBBK has pulled back, but its long-term trend is still up: it's below its 8- and 20-week averages, but 11% above its 100-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 finished higher in five of the last six years. It's up 4% so far in 2026.
NBBK Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2023 | $13.5 | $13.5 | 0% |
| 2024 | $13.5 | $18.4 | +36% |
| 2025 | $18.4 | $20.6 | +12% |
| 2026 YTD | $20.6 | $21.9 | +6.4% |
NBBK has the edge over MS on returns for 2026, with the stronger performance.