MS
Morgan Stanley
MS has lower modeled downside risk, despite its lower overall score.
PLMR
Palomar Holdings, Inc.
PLMR 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.
PLMR Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Healthy | |
| N/A | |
| N/A |
PLMR's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like PLMR.
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.
PLMR PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 14x | $158 | — |
| Cheap | 20x | $163 | +2.7% |
| Current | 20x | $158 | — |
| Fair | 27x | $217 | +37% |
| Expensive | 89x | $710 | +349% |
Historical ranges are pointers, not guarantees.
PLMR 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 PLMR on the outlook, with more favorable profitability expectations.
PLMR Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Stable | |
| Limited | |
| Moderate |
Analysts expect strong earnings and revenue growth for PLMR, with profitability holding steady.
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.
PLMR Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $11.23 | +41% |
| Q3 2026 | $7.98 | +24% |
| Q2 2026 | $7.43 | +31% |
| Q1 2026 | $7.17 | +43% |
| Q4 2025 | $7.17 | +60% |
| Q3 2025 | $6.41 | +52% |
| Q2 2025 | $5.69 | +50% |
| Q1 2025 | $5.01 | +44% |
| Q4 2024 | $4.48 | +43% |
PLMR has the edge over MS on earnings, with stronger typical year-over-year growth.
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 PLMR on profitability, with a higher operating margin.
PLMR Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $386.6M | +58% |
| Q2 2026 | $314.4M | +55% |
| Q1 2026 | $278.9M | +60% |
| Q4 2025 | $253.4M | +63% |
| Q3 2025 | $244.7M | +65% |
| Q2 2025 | $203.3M | +55% |
| Q1 2025 | $174.6M | +47% |
| Q4 2024 | $155.8M | +48% |
PLMR has the edge over MS on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 22% | -5.5 points |
| Q2 2026 | 22% | -7.3 points |
| Q1 2026 | 19% | -12 points |
| Q4 2025 | 29% | -0.2 points |
| Q3 2025 | 27% | +1.5 points |
| Q2 2025 | 29% | +4 points |
| Q1 2025 | 31% | +1.8 points |
| Q4 2024 | 29% | -2.9 points |
PLMR's operating margin was 22% last quarter, down 5.5 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.
PLMR Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $120.5M | +44% |
| Q2 2026 | $166.8M | +38% |
| Q1 2026 | $47M | -46% |
| Q4 2025 | $117.4M | +62% |
| Q3 2025 | $83.6M | -16% |
| Q1 2025 | $87.1M | +163% |
| Q4 2024 | $72.6M | +226% |
| Q3 2024 | $100.1M | +42% |
PLMR 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.
PLMR Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.2% | -61K shares |
| 1 year | -1.6% | -451K shares |
| 3 years | +6.9% | +1.8M shares |
| 5 years | +3.7% | +952K shares |
| Available history | +24% | +5.2M shares |
PLMR has the edge over MS on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $8.9M |
| Q2 2026 | $41M |
| Q1 2026 | $23.1M |
| Q4 2025 | $7,000 |
| Q4 2024 | — |
| Q3 2024 | — |
| Q2 2024 | — |
| Q1 2024 | — |
PLMR spent $73M 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.
PLMR 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).
PLMR Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 68.6 | Neutral |
| Stochastic | 84.4 | Overbought |
PLMR's weekly RSI is 69 (neutral) and its Stochastic is 84 (overbought).
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 PLMR on valuation relative to its sector.
PLMR PE vs Financial Services Sector
| Metric | PLMR | Sector median | Relative |
|---|---|---|---|
| PE | 20x | 13x | 52% above |
| PE % | 13 | 63 | 50 pts below |
PLMR is trading at 20x earnings, a 52% 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 |
MS's trend is mixed: it's above three of its five weekly moving averages, and 46% above its 200-week average.
PLMR Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $139.6 | 13% above |
| 20 week MA | $136.4 | 16% above |
| 50 week MA | $127.9 | 24% above |
| 100 week MA | $128.9 | 23% above |
| 200 week MA | $99.5 | 59% above |
PLMR 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.
PLMR Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $50.6 | $91.2 | +80% |
| 2021 | $91.2 | $64.7 | -29% |
| 2022 | $64.7 | $46.2 | -29% |
| 2023 | $46.2 | $55.5 | +20% |
| 2024 | $55.5 | $104.4 | +88% |
| 2025 | $104.4 | $134.8 | +29% |
| 2026 YTD | $134.8 | $158.3 | +17% |
PLMR has the edge over MS on returns for 2026, with the stronger performance.