MS
Morgan Stanley
MS has lower modeled downside risk, despite its lower overall score.
SII
Sprott Inc.
SII has the 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.
SII Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| N/A | |
| N/A |
SII's revenue and profitability are currently strong. Free cash flow and net leverage aren't meaningful measures for financial services companies like SII.
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.
SII PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 24x | $108 | — |
| Cheap | 25x | $100 | -6.6% |
| Current | 26x | $108 | — |
| Fair | 37x | $150 | +40% |
| Expensive | 62x | $252 | +134% |
Historical ranges are pointers, not guarantees.
SII 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 SII on the outlook, with more favorable revenue expectations.
SII Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Stable | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect SII's earnings to grow and its profitability to improve, with its revenue 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 has the edge over SII on earnings, with stronger typical year-over-year growth.
SII Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $4.51 | +10% |
| Q2 2026 | $4.09 | +112% |
| Q1 2026 | $3.29 | +72% |
| Q4 2025 | $2.63 | +39% |
| Q3 2025 | $1.95 | +7.1% |
| Q2 2025 | $1.93 | +21% |
| Q1 2025 | $1.91 | +8.5% |
| Q4 2024 | $1.89 | +17% |
| Q3 2024 | $1.82 | +21% |
SII's earnings per share have climbed steadily: $4.09 over the past year, up 112% from the year before, and higher year over year for 13 quarters in a row.
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.
SII Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $79.5M | +28% |
| Q1 2026 | $141.9M | +240% |
| Q4 2025 | $107M | +187% |
| Q3 2025 | $57.9M | +28% |
| Q2 2025 | $62.2M | +34% |
| Q1 2025 | $41.7M | +5.6% |
| Q4 2024 | $37.3M | -0.6% |
| Q3 2024 | $45.2M | +27% |
SII's revenue has grown year over year for six quarters in a row: $79M last quarter, up 28% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 56% | +25 points |
| Q1 2026 | 29% | -7 points |
| Q4 2025 | 33% | +8.9 points |
| Q3 2025 | 17% | -26 points |
| Q2 2025 | 31% | -6.5 points |
| Q1 2025 | 36% | -0.3 points |
| Q4 2024 | 24% | -12 points |
| Q3 2024 | 42% | +11 points |
SII 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.
SII Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $34.7M | +64% |
| Q1 2026 | $43.2M | +219% |
| Q4 2025 | $51.6M | +95% |
| Q3 2025 | $9.6M | -54% |
| Q2 2025 | $21.1M | +135% |
| Q1 2025 | $13.5M | +24% |
| Q4 2024 | $26.5M | +139% |
| Q3 2024 | $20.9M | +$21.4M |
SII 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 SII on shareholder dilution, with a more favorable share count trend.
SII Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.1% | -31K shares |
| 1 year | -0.2% | -52K shares |
| 3 years | -1.8% | -464K shares |
| 5 years | -0.8% | -208K shares |
| Available history | +4.1% | +1M shares |
SII has 26M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q2 2026 | $6M |
| Q1 2026 | $493,074 |
| Q4 2025 | $896 |
| Q3 2025 | $1M |
| Q2 2025 | — |
| Q1 2025 | $552,000 |
| Q4 2024 | $2M |
| Q3 2024 | $212 |
SII spent $7M buying back its own shares over the past year, up 191% from the year before.
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.
SII Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | -1.3x | Net Cash |
| Q1 2026 | -1.4x | Net Cash |
| Q4 2025 | -1.3x | Net Cash |
| Q3 2025 | -1.1x | Net Cash |
| Q2 2025 | -1.0x | Net Cash |
| Q1 2025 | -0.8x | Net Cash |
| Q4 2024 | -0.6x | Net Cash |
| Q3 2024 | -0.4x | Net Cash |
SII 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).
SII Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 43.9 | Neutral |
| Stochastic | 21.2 | Neutral |
SII's weekly RSI is 44 (neutral) and its Stochastic is 21 (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 SII on valuation relative to its sector.
SII PE vs Financial Services Sector
| Metric | SII | Sector median | Relative |
|---|---|---|---|
| PE | 26x | 13x | 102% above |
| PE % | 25 | 63 | 38 pts below |
SII is trading at 26x earnings, a 102% 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 SII on trend strength, trading above more of its moving averages.
SII Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $111.5 | 3.6% below |
| 20 week MA | $115.8 | 7.2% below |
| 50 week MA | $122.0 | 12% below |
| 100 week MA | $91.5 | 17% above |
| 200 week MA | $64.5 | 67% above |
SII has pulled back, but its long-term trend is still up: it's below its 8-, 20- and 50-week averages, but 67% 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 finished higher in five of the last six years. It's up 4% so far in 2026.
SII Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $22.5 | $29.1 | +29% |
| 2021 | $29.1 | $44.9 | +54% |
| 2022 | $44.9 | $33.4 | -26% |
| 2023 | $33.4 | $34.0 | +1.8% |
| 2024 | $34.0 | $42.0 | +24% |
| 2025 | $42.0 | $100.5 | +139% |
| 2026 YTD | $100.5 | $107.5 | +7% |
SII has the edge over MS on returns for 2026, with the stronger performance.