MS
Morgan Stanley
MS has the edge over ORRF overall, supported by stronger modeled upside and stronger valuation.
ORRF
Orrstown Financial Services, Inc.
ORRF's outlook is improving, though it still trails on the overall score.
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.
ORRF Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| N/A | |
| N/A |
ORRF's profitability is currently strong, and its revenue is stable. Free cash flow and net leverage aren't meaningful measures for financial services companies like ORRF.
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.
ORRF PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 7.6x | $34.06 | -23% |
| Fair | 9.1x | $40.84 | -7.4% |
| Forward | 9.6x | $44.10 | — |
| Current | 9.8x | $44.10 | — |
| Expensive | 15x | $69.33 | +57% |
Historical ranges are pointers, not guarantees.
ORRF 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 |
MS has the edge over ORRF on the outlook, with more favorable valuation expectations.
ORRF Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for ORRF, 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's earnings per share have climbed steadily: $12.60 over the past year, up 29% from the year before, and higher year over year for 10 quarters in a row.
ORRF Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $4.58 | +2% |
| Q3 2026 | $4.49 | +31% |
| Q2 2026 | $4.45 | +137% |
| Q1 2026 | $4.37 | +173% |
| Q4 2025 | $4.18 | +182% |
| Q3 2025 | $3.42 | +83% |
| Q2 2025 | $1.88 | -40% |
| Q1 2025 | $1.60 | -52% |
| Q4 2024 | $1.48 | -57% |
ORRF earned $4.49 per share over the past year, up 31% from 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 ORRF 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's operating margin was 32% last quarter, down 1.2 points from the same quarter a year ago.
ORRF Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $66.7M | +3.6% |
| Q2 2026 | $62.7M | +0.4% |
| Q1 2026 | $64.6M | +7% |
| Q4 2025 | $64.9M | +5% |
| Q3 2025 | $64.4M | +0.4% |
| Q2 2025 | $62.4M | +88% |
| Q1 2025 | $60.4M | +80% |
| Q4 2024 | $61.8M | +90% |
ORRF's revenue has grown year over year for nine quarters in a row: $67M last quarter, up 3.6% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 42% | -0.5 points |
| Q2 2026 | 39% | -0.2 points |
| Q1 2026 | 43% | +4.9 points |
| Q4 2025 | 42% | +15 points |
| Q3 2025 | 43% | +58 points |
| Q2 2025 | 40% | +10 points |
| Q1 2025 | 38% | +5.6 points |
| Q4 2024 | 28% | -2.1 points |
ORRF 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.
ORRF Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$3.9M | -118% |
| Q2 2026 | $22.4M | -5.4% |
| Q1 2026 | $25.1M | +191% |
| Q4 2025 | $15.9M | +119% |
| Q3 2025 | $22.3M | +213% |
| Q2 2025 | $23.7M | +270% |
| Q1 2025 | $8.6M | -31% |
| Q4 2024 | $7.2M | -45% |
ORRF 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 ORRF on shareholder dilution, with a more favorable share count trend.
ORRF Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.4% | +72K shares |
| 1 year | +0.7% | +140K shares |
| 3 years | +87% | +9.1M shares |
| 5 years | +76% | +8.4M shares |
| Available history | +86% | +9M shares |
ORRF has 20M diluted shares, up 0.7% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | — |
| Q1 2026 | $429,000 |
| Q4 2025 | $169,000 |
| Q3 2025 | $29,000 |
| Q4 2024 | — |
| Q3 2024 | — |
| Q2 2024 | — |
ORRF has spent almost nothing on buybacks in 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.
ORRF Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.3x | Net Cash |
| Q2 2026 | -0.4x | Net Cash |
| Q1 2026 | -0.1x | Net Cash |
| Q4 2025 | 0.5x | Very low |
| Q3 2025 | -0.2x | Net Cash |
| Q2 2025 | 0.2x | Very low |
| Q1 2025 | 0.1x | Very low |
| Q4 2024 | 1.5x | Healthy |
ORRF has the edge over MS on leverage, with a lower net debt burden relative to earnings.
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).
ORRF Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 63.5 | Neutral |
| Stochastic | 66.2 | Neutral |
ORRF's weekly RSI is 63 (neutral) and its Stochastic is 66 (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.
ORRF PE vs Financial Services Sector
| Metric | ORRF | Sector median | Relative |
|---|---|---|---|
| PE | 9.8x | 13x | 25% below |
| PE % | 65 | 63 | 2 pts above |
ORRF 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's trend is mixed: it's above three of its five weekly moving averages, and 46% above its 200-week average.
ORRF Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $42.8 | 3.1% above |
| 20 week MA | $42.4 | 4.1% above |
| 50 week MA | $39.1 | 13% above |
| 100 week MA | $36.0 | 23% above |
| 200 week MA | $31.1 | 42% above |
ORRF has the edge over MS on trend strength, trading above more of its moving averages.
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.
ORRF Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $22.8 | $16.9 | -26% |
| 2021 | $16.9 | $24.4 | +45% |
| 2022 | $24.4 | $23.8 | -2.8% |
| 2023 | $23.8 | $29.5 | +24% |
| 2024 | $29.5 | $36.5 | +24% |
| 2025 | $36.5 | $35.9 | -1.5% |
| 2026 YTD | $35.9 | $44.1 | +23% |
ORRF has the edge over MS on returns for 2026, with the stronger performance.