MS
Morgan Stanley
MS's outlook is improving, though it still trails on the overall score.
SCHW
The Charles Schwab Corporation
SCHW has the edge over MS overall, supported by stronger valuation and stronger modeled upside.
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.
SCHW Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| N/A | |
| N/A |
SCHW's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like SCHW.
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.
SCHW PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 12x | $91.72 | — |
| Cheap | 16x | $95.94 | +4.6% |
| Current | 16x | $91.72 | — |
| Fair | 24x | $140 | +52% |
| Expensive | 30x | $178 | +94% |
Historical ranges are pointers, not guarantees.
SCHW 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.
SCHW Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Moderate | |
| High |
Analysts expect earnings and revenue growth for SCHW, 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.
SCHW Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $7.48 | +28% |
| Q3 2026 | $5.85 | +37% |
| Q2 2026 | $5.49 | +48% |
| Q1 2026 | $5.03 | +52% |
| Q4 2025 | $4.65 | +56% |
| Q3 2025 | $4.27 | +67% |
| Q2 2025 | $3.72 | +54% |
| Q1 2025 | $3.30 | +38% |
| Q4 2024 | $2.99 | +18% |
SCHW 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's operating margin was 32% last quarter, down 1.2 points from the same quarter a year ago.
SCHW Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $7.2B | +17% |
| Q2 2026 | $7.1B | +21% |
| Q1 2026 | $6.5B | +16% |
| Q4 2025 | $6.3B | +19% |
| Q3 2025 | $6.1B | +27% |
| Q2 2025 | $5.9B | +25% |
| Q1 2025 | $5.6B | +18% |
| Q4 2024 | $5.3B | +20% |
SCHW has the edge over MS on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 53% | +3.4 points |
| Q2 2026 | 52% | +4 points |
| Q1 2026 | 49% | +5.3 points |
| Q4 2025 | 50% | +6.9 points |
| Q3 2025 | 49% | +11 points |
| Q2 2025 | 48% | +11 points |
| Q1 2025 | 44% | +5.9 points |
| Q4 2024 | 43% | +17 points |
SCHW 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.
SCHW Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $1.3B | +231% |
| Q2 2026 | $4.1B | +35% |
| Q1 2026 | $7.2B | +15% |
| Q4 2025 | -$921M | +$10.2B |
| Q3 2025 | $393M | -98% |
| Q2 2025 | $3B | +$7.4B |
| Q1 2025 | $6.2B | +$7.7B |
| Q4 2024 | -$11.1B | -155% |
SCHW 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.
SCHW Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.3% | -6M shares |
| 1 year | -4.3% | -78M shares |
| 3 years | -5.1% | -94M shares |
| 5 years | -8.7% | -165M shares |
| Available history | +34% | +440M shares |
SCHW has the edge over MS on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $500M |
| Q2 2026 | $999M |
| Q1 2026 | $2.4B |
| Q1 2025 | $1.5B |
| Q4 2024 | — |
| Q3 2024 | — |
| Q2 2024 | — |
| Q1 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.
SCHW Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2020 | -5.4x | Net Cash |
| Q1 2020 | -12.0x | Net Cash |
| Q4 2019 | -4.2x | Net Cash |
SCHW has more cash than debt. Net leverage isn't a meaningful measure for financial services companies like SCHW.
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).
SCHW Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 40.9 | Neutral |
| Stochastic | 11.2 | Oversold |
SCHW's weekly RSI is 41 (neutral) and its Stochastic is 11 (oversold).
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 SCHW on valuation relative to its sector.
SCHW PE vs Financial Services Sector
| Metric | SCHW | Sector median | Relative |
|---|---|---|---|
| PE | 16x | 13x | 20% above |
| PE % | 14 | 63 | 49 pts below |
SCHW is trading at 16x earnings, a 20% 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 has the edge over SCHW on trend strength, trading above more of its moving averages.
SCHW Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $93.3 | 1.7% below |
| 20 week MA | $100.9 | 9.1% below |
| 50 week MA | $97.3 | 5.7% below |
| 100 week MA | $92.0 | 0.3% below |
| 200 week MA | $78.5 | 17% above |
SCHW has fallen below most of its moving averages, though it's still 17% 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 SCHW on returns for 2026, with the stronger performance.
SCHW Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $48.3 | $52.1 | +7.7% |
| 2021 | $52.1 | $85.1 | +64% |
| 2022 | $85.1 | $81.8 | -3.9% |
| 2023 | $81.8 | $68.8 | -16% |
| 2024 | $68.8 | $74.7 | +8.6% |
| 2025 | $74.7 | $101.9 | +36% |
| 2026 YTD | $101.9 | $91.7 | -10% |
SCHW has finished higher in four of the last six years. It's down 10% so far in 2026.