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.
TD
The Toronto-Dominion Bank
There isn't enough reported data to score TD 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.
TD Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Stable | |
| N/A | |
| N/A |
TD's revenue is currently healthy, and its profitability is stable. Free cash flow and net leverage aren't meaningful measures for financial services companies like TD.
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.
TD PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 10x | $59.97 | -52% |
| Fair | 11x | $68.08 | -45% |
| Expensive | 16x | $95.36 | -23% |
| Current | 21x | $124 | — |
Historical ranges are pointers, not guarantees.
TD 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 TD on the outlook, with more favorable revenue expectations.
TD Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Growth | |
| Stable | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect TD'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 stronger earnings trend. Trailing diluted EPS is up 29% for MS versus TD down 12%.
TD Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | $5.98 | -12% |
| Q1 2026 | $8.68 | +161% |
| Q4 2025 | $8.13 | +145% |
| Q3 2025 | $8.20 | +174% |
| Q2 2025 | $6.78 | +62% |
| Q1 2025 | $3.32 | -25% |
| Q4 2024 | $3.32 | -16% |
| Q3 2024 | $2.99 | -45% |
TD earned $5.98 per share over the past year, down 12% from the year before.
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% |
TD has the stronger quarterly revenue trend. Revenue is up 12% for MS versus up 18% for TD.
| 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.
TD Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $19B | +18% |
| Q1 2026 | $11.7B | +18% |
| Q4 2025 | $10.9B | -0.1% |
| Q3 2025 | $10.8B | +7.9% |
| Q2 2025 | $16.1B | +66% |
| Q1 2025 | $9.9B | +2.4% |
| Q4 2024 | $10.9B | +18% |
| Q3 2024 | $10B | +11% |
TD's revenue is growing: $19B last quarter, up 18% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 19% | N/A |
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.
TD Free Cash Flow
TD and MS do not have enough comparable growth data to identify a winner.
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.
TD Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.4% | -24M shares |
| 1 year | -4.7% | -81M shares |
| 3 years | -9.3% | -170M shares |
| 5 years | -8.7% | -159M shares |
| Available history | -9.2% | -168M shares |
TD has the edge over MS on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q2 2026 | $4.1B |
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.
TD 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).
TD Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 61.4 | Neutral |
| Stochastic | 68.9 | Neutral |
TD's weekly RSI is 61 (neutral) and its Stochastic is 69 (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 TD on valuation relative to its sector.
TD PE vs Financial Services Sector
| Metric | TD | Sector median | Relative |
|---|---|---|---|
| PE | 21x | 13x | 59% above |
| PE % | 100 | 63 | 37 pts above |
TD is trading at 21x earnings, a 59% premium to the Financial Services sector's median of 13x, though its earnings don't support one.
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.
TD Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $121.2 | 2.2% above |
| 20 week MA | $121.1 | 2.3% above |
| 50 week MA | $108.8 | 14% above |
| 100 week MA | $88.6 | 40% above |
| 200 week MA | $74.3 | 67% above |
TD 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.
TD Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $56.1 | $56.1 | 0% |
| 2021 | $56.1 | $75.1 | +34% |
| 2022 | $75.1 | $65.0 | -14% |
| 2023 | $65.0 | $64.6 | -0.6% |
| 2024 | $64.6 | $53.0 | -18% |
| 2025 | $53.0 | $94.7 | +79% |
| 2026 YTD | $94.7 | $123.8 | +31% |
TD has the edge over MS on returns for 2026, with the stronger performance.