MS
Morgan Stanley
MS has the edge over SRCE overall, supported by stronger modeled upside and stronger valuation.
SRCE
1st Source Corporation
SRCE's outlook is improving, though it still trails on the overall score.
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.
SRCE Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| N/A | |
| N/A |
SRCE's profitability is currently strong, and its revenue is stable. Free cash flow and net leverage aren't meaningful measures for financial services companies like SRCE.
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.
SRCE PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 9.7x | $70.88 | -20% |
| Fair | 11x | $78.05 | -12% |
| Expensive | 12x | $90.07 | +2.1% |
| Current | 12x | $88.25 | — |
| Forward | 12x | $88.25 | — |
Historical ranges are pointers, not guarantees.
SRCE 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 SRCE on the outlook, with more favorable valuation expectations.
SRCE Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for SRCE, 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 edge over SRCE on earnings, with stronger typical year-over-year growth.
SRCE Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $7.59 | +4.2% |
| Q3 2026 | $7.28 | +21% |
| Q2 2026 | $6.96 | +22% |
| Q1 2026 | $6.52 | +15% |
| Q4 2025 | $6.41 | +20% |
| Q3 2025 | $6.01 | +14% |
| Q2 2025 | $5.71 | +11% |
| Q1 2025 | $5.69 | +14% |
| Q4 2024 | $5.36 | +6.6% |
SRCE's earnings per share have climbed steadily: $7.28 over the past year, up 21% from the year before, and higher year over year for 10 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 has the edge over SRCE on sales, with stronger typical year-over-year growth.
| 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.
SRCE Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $120.3M | +8.7% |
| Q2 2026 | $118.2M | +9.2% |
| Q1 2026 | $113.1M | +8.7% |
| Q4 2025 | $110.8M | +13% |
| Q3 2025 | $110.7M | +13% |
| Q2 2025 | $108.2M | +11% |
| Q1 2025 | $104M | +11% |
| Q4 2024 | $97.8M | +7% |
SRCE's revenue has grown year over year for 11 quarters in a row: $120M last quarter, up 8.7% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 53% | +3.7 points |
| Q2 2026 | 52% | +7.7 points |
| Q1 2026 | 45% | -0.5 points |
| Q4 2025 | 48% | +7.4 points |
| Q3 2025 | 50% | +3.3 points |
| Q2 2025 | 44% | -4.6 points |
| Q1 2025 | 46% | +5.6 points |
| Q4 2024 | 41% | +1 points |
SRCE 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.
SRCE Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $69.1M | +46% |
| Q2 2026 | $49.3M | +15% |
| Q1 2026 | $58.1M | -16% |
| Q4 2025 | $53.5M | +98% |
| Q3 2025 | $47.3M | -29% |
| Q2 2025 | $43M | -7.3% |
| Q1 2025 | $69.3M | +67% |
| Q4 2024 | $27M | -34% |
SRCE 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.
SRCE Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | +9.9K shares |
| 1 year | -1.6% | -389K shares |
| 3 years | -2.3% | -577K shares |
| 5 years | -3.4% | -837K shares |
| Available history | -5.9% | -1.5M shares |
SRCE has the edge over MS on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | — |
| Q1 2026 | $23.4M |
| Q4 2025 | $4.2M |
| Q3 2025 | $6.4M |
| Q2 2025 | $2.8M |
| Q1 2025 | $455,000 |
| Q4 2024 | $178,000 |
SRCE spent $28M buying back its own shares over the past year, up 180% 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.
SRCE Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.0x | Very low |
| Q2 2026 | 0.9x | Very low |
| Q1 2026 | 1.4x | Healthy |
| Q4 2025 | 1.2x | Healthy |
| Q3 2025 | -0.7x | Net Cash |
| Q2 2025 | 0.1x | Very low |
| Q1 2025 | -0.9x | Net Cash |
| Q4 2024 | 1.7x | Healthy |
SRCE 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).
SRCE Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 64.5 | Neutral |
| Stochastic | 55.9 | Neutral |
SRCE's weekly RSI is 64 (neutral) and its Stochastic is 56 (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.
SRCE PE vs Financial Services Sector
| Metric | SRCE | Sector median | Relative |
|---|---|---|---|
| PE | 12x | 13x | 6.9% below |
| PE % | 79 | 63 | 16 pts above |
SRCE has the edge over MS on valuation relative to its sector.
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.
SRCE Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $86.6 | 1.9% above |
| 20 week MA | $86.2 | 2.4% above |
| 50 week MA | $76.6 | 15% above |
| 100 week MA | $68.7 | 28% above |
| 200 week MA | $59.7 | 48% above |
SRCE 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.
SRCE Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $52.0 | $39.9 | -23% |
| 2021 | $39.9 | $48.4 | +21% |
| 2022 | $48.4 | $54.3 | +12% |
| 2023 | $54.3 | $55.0 | +1.3% |
| 2024 | $55.0 | $58.6 | +6.7% |
| 2025 | $58.6 | $64.0 | +9.1% |
| 2026 YTD | $64.0 | $88.3 | +38% |
SRCE has the edge over MS on returns for 2026, with the stronger performance.