MS
Morgan Stanley
MS has the edge over OMF overall, supported by stronger fundamentals and stronger modeled upside.
OMF
OneMain Holdings, Inc.
OMF 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.
OMF Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| N/A | |
| N/A |
OMF's profitability is currently healthy, and its revenue is stable. Free cash flow and net leverage aren't meaningful measures for financial services companies like OMF.
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 OMF in the historical PE scenario, which offers more potential upside but is not a forecast.
OMF PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 4.8x | $31.69 | -42% |
| Forward | 7.1x | $54.38 | — |
| Fair | 7.9x | $51.66 | -5% |
| Current | 8.3x | $54.38 | — |
| Expensive | 10x | $67.63 | +24% |
Historical ranges are pointers, not guarantees.
OMF's PE is in its fair range at 8.3x. If earnings grow as analysts expect, today's price would be 7.1x next year's earnings.
MS Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for MS, with profitability improving.
OMF Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect earnings and revenue growth for OMF, with profitability improving. 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 OMF on earnings, with more consistent year-over-year improvement.
OMF Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $7.67 | +17% |
| Q3 2026 | $6.56 | +11% |
| Q2 2026 | $6.63 | +20% |
| Q1 2026 | $6.71 | +42% |
| Q4 2025 | $6.56 | +55% |
| Q3 2025 | $5.90 | +29% |
| Q2 2025 | $5.54 | +14% |
| Q1 2025 | $4.73 | -7.8% |
| Q4 2024 | $4.24 | -20% |
OMF's earnings per share have fallen from their peak: $6.56 over the past year, against $10.50 in late 2021.
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 OMF on sales, with stronger typical year-over-year growth.
| 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 OMF on profitability, with a higher operating margin.
OMF Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.4B | +10% |
| Q2 2026 | $1.3B | +8.3% |
| Q1 2026 | $1.3B | +6.6% |
| Q4 2025 | $1.3B | +10% |
| Q3 2025 | $1.2B | +6.2% |
| Q2 2025 | $1.2B | +9.3% |
| Q1 2025 | $1.2B | +10% |
| Q4 2024 | $1.2B | +5.8% |
OMF's revenue has grown year over year for 14 quarters in a row: $1.4B last quarter, up 10% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 17% | -4.1 points |
| Q2 2026 | 15% | -2.8 points |
| Q1 2026 | 23% | +0.2 points |
| Q4 2025 | 19% | +5.3 points |
| Q3 2025 | 21% | +3.5 points |
| Q2 2025 | 18% | +9.5 points |
| Q1 2025 | 23% | +4.3 points |
| Q4 2024 | 14% | -6 points |
OMF's operating margin was 17% last quarter, down 4.1 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.
OMF Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $808M | -2.4% |
| Q2 2026 | $800M | +3.4% |
| Q1 2026 | $739M | +11% |
| Q4 2025 | $865M | +15% |
| Q3 2025 | $828M | +22% |
| Q2 2025 | $774M | +8.7% |
| Q1 2025 | $665M | +19% |
| Q4 2024 | $752M | +11% |
OMF 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.
OMF Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.2% | -271K shares |
| 1 year | -3.3% | -3.9M shares |
| 3 years | -4.4% | -5.3M shares |
| 5 years | -13% | -17.4M shares |
| Available history | -15% | -20.8M shares |
OMF has the edge over MS on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $34M |
| Q2 2026 | $32M |
| Q1 2026 | $107M |
| Q4 2025 | $71M |
| Q3 2025 | $33M |
| Q2 2025 | $21M |
| Q1 2025 | $16M |
| Q4 2024 | $3M |
OMF spent $244M buying back its own shares over the past year, about three times what it spent the year before.
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 has the edge over OMF on leverage, with a lower net debt burden relative to earnings.
OMF Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 18.2x | High |
| Q2 2026 | 17.1x | High |
| Q1 2026 | 16.4x | High |
| Q4 2025 | 16.9x | High |
| Q3 2025 | 18.1x | High |
| Q2 2025 | 18.6x | High |
| Q1 2025 | 20.5x | High |
| Q4 2024 | 22.2x | High |
OMF's net debt is about 18 years of its operating earnings (EBITDA), about the same as a year ago. Net leverage isn't a meaningful measure for financial services companies like OMF.
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).
OMF Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 38.1 | Neutral |
| Stochastic | 13.3 | Oversold |
OMF's weekly RSI is 38 (neutral) and its Stochastic is 13 (oversold).
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.
OMF PE vs Financial Services Sector
| Metric | OMF | Sector median | Relative |
|---|---|---|---|
| PE | 8.3x | 13x | 36% below |
| PE % | 54 | 63 | 9 pts below |
OMF 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 OMF on trend strength, trading above more of its moving averages.
OMF Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $56.0 | 2.9% below |
| 20 week MA | $59.7 | 8.9% below |
| 50 week MA | $59.5 | 8.6% below |
| 100 week MA | $57.0 | 4.6% below |
| 200 week MA | $51.0 | 6.5% above |
OMF has fallen below most of its moving averages, though it's still 6.5% above 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 OMF on returns for 2026, with the stronger performance.
OMF Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $42.6 | $46.7 | +9.7% |
| 2021 | $46.7 | $50.2 | +7.4% |
| 2022 | $50.2 | $33.2 | -34% |
| 2023 | $33.2 | $49.2 | +48% |
| 2024 | $49.2 | $52.8 | +7.3% |
| 2025 | $52.8 | $69.1 | +31% |
| 2026 YTD | $69.1 | $54.4 | -21% |
OMF has finished higher in five of the last six years. It's down 21% so far in 2026.