MS
Morgan Stanley
MS's fundamentals are strong: revenue grew 16% and earnings per share grew 29%. At 15x earnings, it's trading in line with its usual 14x. Analysts expect earnings growth.
RYAN
Ryan Specialty Holdings, Inc.
There isn't enough reported data to score RYAN yet.
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.
RYAN Fundamentals
| Metric | Status |
|---|---|
| Unavailable | |
| Stable | |
| N/A | |
| N/A |
RYAN's profitability is currently stable. There isn't enough data to rate its revenue. Free cash flow and net leverage aren't meaningful measures for financial services companies like RYAN.
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.
RYAN PE Valuation
RYAN has no meaningful PE right now: it lost money over the past year.
MS Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for MS, with profitability improving.
RYAN Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Growth | |
| Growth | |
| Improving | |
| Moderate | |
| High |
Analysts expect earnings and revenue growth for RYAN, 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 stronger earnings trend. Trailing diluted EPS is up 29% for MS versus RYAN down 71%.
RYAN Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.35 | +2037% |
| Q4 2025 | $0.11 | -71% |
| Q3 2025 | $0.13 | -75% |
| Q2 2025 | $0.12 | -68% |
| Q1 2025 | $0.10 | -78% |
| Q4 2024 | $0.38 | -45% |
| Q3 2024 | $0.51 | -24% |
| Q2 2024 | $0.37 | -55% |
| Q1 2024 | $0.46 | -41% |
RYAN's earnings per share have fallen from their peak: $0.11 over the past year, against $0.82 in mid-2023.
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% |
RYAN has the stronger quarterly revenue trend. Revenue is up 12% for MS versus up 14% for RYAN.
| 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 RYAN on profitability, with a higher operating margin.
RYAN Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $790M | +4.7% |
| Q4 2025 | $751.2M | +13% |
| Q3 2025 | $754.6M | +25% |
| Q2 2025 | $855.2M | +23% |
| Q1 2025 | $690.2M | +25% |
| Q4 2024 | $663.5M | +25% |
| Q3 2024 | $604.7M | +20% |
| Q2 2024 | $695.4M | +19% |
RYAN's revenue has grown year over year every quarter since early 2021: $790M last quarter, up 14% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 18% | -2.8 points |
| Q4 2025 | 18% | +7.6 points |
| Q3 2025 | 21% | +17 points |
| Q2 2025 | 16% | -3.6 points |
| Q1 2025 | 7.4% | -1.1 points |
| Q4 2024 | 10% | -0.7 points |
| Q3 2024 | 3.3% | -4.8 points |
| Q2 2024 | 20% | +3.4 points |
RYAN's operating margin was 18% last quarter, up 10 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 |
RYAN has the stronger cash trend. Its trailing FCF is up 176% versus its history, compared with MS at down 492%.
RYAN Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $181.3M | +17% |
| Q4 2025 | $246M | +1.5% |
| Q3 2025 | $155.5M | +66% |
| Q2 2025 | $333.8M | +30% |
| Q1 2025 | -$159.6M | -$35.4M |
| Q4 2024 | $242.3M | +14% |
| Q3 2024 | $93.8M | -1.1% |
| Q2 2024 | $255.9M | -15% |
RYAN's free cash flow was $917M over the past year, up 112% from the year before. Free cash flow isn't a meaningful measure for financial services companies like RYAN.
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 RYAN on shareholder dilution, with a more favorable share count trend.
RYAN Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -9.7% | -26.9M shares |
| 1 year | +100% | +126M shares |
| 3 years | +127% | +141M shares |
| 5 years | +136% | +145M shares |
RYAN has 252M diluted shares, up 100% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $150.1M |
| Q4 2025 | $3.5M |
| Q3 2025 | $82,000 |
| Q2 2025 | $13M |
| Q1 2025 | $1.7M |
| Q4 2024 | $83,000 |
| Q3 2024 | $82,000 |
| Q2 2024 | — |
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.
RYAN Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q4 2025 | 4.2x | High |
| Q3 2025 | 4.2x | High |
| Q2 2025 | 4.8x | High |
| Q1 2025 | 5.5x | High |
| Q4 2024 | 4.9x | High |
| Q3 2024 | 4.9x | High |
| Q2 2024 | 2.9x | Moderate |
| Q1 2024 | 3.1x | Elevated |
RYAN's net debt is about 4.2 years of its operating earnings (EBITDA), down from 4.9 years a year ago. Net leverage isn't a meaningful measure for financial services companies like RYAN.
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).
RYAN Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 59.4 | Neutral |
| Stochastic | 78.4 | Neutral |
RYAN's weekly RSI is 59 (neutral) and its Stochastic is 78 (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.
RYAN PE vs Financial Services Sector
| Metric | RYAN | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 13x | — |
RYAN has no meaningful PE right now: it lost money over the past year.
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.
RYAN Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $41.8 | 10% above |
| 20 week MA | $41.9 | 10% above |
| 50 week MA | $41.0 | 12% above |
| 100 week MA | $52.3 | 12% below |
| 200 week MA | $51.7 | 11% below |
RYAN has bounced recently, but its long-term trend is still down: it's above its 8-, 20- and 50-week averages, but 11% below 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 RYAN on returns for 2026, with the stronger performance.
RYAN Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $28.6 | $39.3 | +38% |
| 2022 | $39.3 | $40.6 | +3.1% |
| 2023 | $40.6 | $43.0 | +6.1% |
| 2024 | $43.0 | $64.0 | +49% |
| 2025 | $64.0 | $51.8 | -19% |
| 2026 YTD | $51.8 | $46.2 | -11% |
RYAN has finished higher in four of the last five years. It's down 11% so far in 2026.