MS
Morgan Stanley
MS has lower modeled downside risk, despite its lower overall score.
PACS
PACS Group, Inc.
PACS has a slight edge over MS overall, supported by stronger valuation.
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.
PACS Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| N/A | |
| N/A |
PACS's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like PACS.
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.
PACS PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 17x | $30.55 | -36% |
| Forward | 18x | $48.00 | — |
| Fair | 24x | $43.08 | -10% |
| Current | 27x | $48.00 | — |
| Expensive | 34x | $60.12 | +25% |
Historical ranges are pointers, not guarantees.
PACS 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.
PACS Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Improving | |
| Limited | |
| Moderate |
Analysts expect strong earnings and revenue growth for PACS, 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.
PACS Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.64 | +50% |
| Q3 2026 | $1.76 | +73% |
| Q2 2026 | $1.71 | +114% |
| Q1 2026 | $1.55 | +269% |
| Q4 2025 | $1.22 | +94% |
| Q3 2025 | $1.02 | +59% |
| Q2 2025 | $0.80 | +19% |
| Q1 2025 | $0.42 | -52% |
| Q4 2024 | $0.63 | -16% |
PACS earned $1.76 per share over the past year, up 73% 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'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 PACS on profitability, with a higher operating margin.
PACS Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.5B | +11% |
| Q2 2026 | $1.4B | +9.1% |
| Q1 2026 | $1.4B | +11% |
| Q4 2025 | $1.4B | +12% |
| Q3 2025 | $1.3B | +31% |
| Q2 2025 | $1.3B | +33% |
| Q1 2025 | $1.3B | +37% |
| Q4 2024 | $1.2B | +42% |
PACS has the edge over MS on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 6.7% | +0.2 points |
| Q2 2026 | 7.7% | +1.5 points |
| Q1 2026 | 8.4% | +4.7 points |
| Q4 2025 | 7% | +1 points |
| Q3 2025 | 6.4% | +4.2 points |
| Q2 2025 | 6.2% | +6.1 points |
| Q1 2025 | 3.8% | -4.8 points |
| Q4 2024 | 6% | -6 points |
PACS's operating margin was 6.7% last quarter, about level with 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.
PACS Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $178.7M | -4.3% |
| Q2 2026 | $109M | +221% |
| Q1 2026 | $214.5M | +62% |
| Q4 2025 | -$54.5M | -236% |
| Q3 2025 | $186.8M | -3.4% |
| Q2 2025 | $34M | +75% |
| Q1 2025 | $132.5M | +176% |
| Q4 2024 | $40M | +$64.9M |
PACS 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 PACS on shareholder dilution, with a more favorable share count trend.
PACS Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +1.2% | +1.9M shares |
| 1 year | -0.5% | -794K shares |
| 3 years | +7.6% | +11.5M shares |
PACS has 164M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q4 2023 | — |
| Q3 2023 | — |
| Q2 2023 | — |
| Q1 2023 | — |
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.
PACS Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2024 | 0.9x | Very low |
| Q2 2024 | 0.7x | Very low |
| Q1 2024 | 0.6x | Very low |
| Q4 2023 | 10.2x | High |
PACS's net debt is less than a year of its operating earnings (EBITDA). Net leverage isn't a meaningful measure for financial services companies like PACS.
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).
PACS Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 62.3 | Neutral |
| Stochastic | 75.8 | Neutral |
PACS's weekly RSI is 62 (neutral) and its Stochastic is 76 (neutral).
MS PE vs Financial Services Sector
| Metric | MS | Sector median | Relative |
|---|---|---|---|
| PE | 15x | 13x | 15% above |
| PE % | 59 | 63 | 4 pts below |
MS has the edge over PACS on valuation relative to its sector.
PACS PE vs Financial Services Sector
| Metric | PACS | Sector median | Relative |
|---|---|---|---|
| PE | 27x | 13x | 109% above |
| PE % | 63 | 30 | 33 pts above |
PACS is trading at 27x earnings, a 109% premium to the Financial Services sector's median of 13x.
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 |
PACS has stronger trend alignment. MS is above 3 of 5 weekly averages versus PACS above 4 of 4.
PACS Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $45.9 | 4.5% above |
| 20 week MA | $45.2 | 6.3% above |
| 50 week MA | $39.7 | 21% above |
| 100 week MA | $26.2 | 84% above |
PACS is in an uptrend: it's above all four of its weekly moving averages, and 84% 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.
PACS Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2024 | $24.0 | $13.0 | -46% |
| 2025 | $13.0 | $38.1 | +193% |
| 2026 YTD | $38.1 | $48.0 | +26% |
PACS has the edge over MS on returns for 2026, with the stronger performance.