MS
Morgan Stanley
MS has a slight edge over THFF overall, supported by stronger modeled upside and stronger fundamentals.
THFF
First Financial Corporation
THFF trails on the overall score without a compensating advantage in the available component scores.
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.
THFF Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| N/A | |
| N/A |
THFF's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like THFF.
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.
THFF PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 7.8x | $59.78 | -22% |
| Forward | 9.4x | $76.99 | — |
| Fair | 9.7x | $75.07 | -2.5% |
| Current | 10x | $76.99 | — |
| Expensive | 11x | $86.61 | +13% |
Historical ranges are pointers, not guarantees.
THFF 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 THFF on the outlook, with more favorable profitability expectations.
THFF Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Weakening | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for THFF, but weaker profitability.
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 THFF on earnings, with more consistent year-over-year improvement.
THFF Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $8.19 | +6.3% |
| Q3 2026 | $7.70 | +23% |
| Q2 2026 | $7.14 | +37% |
| Q1 2026 | $6.80 | +47% |
| Q4 2025 | $6.68 | +67% |
| Q3 2025 | $6.24 | +70% |
| Q2 2025 | $5.23 | +21% |
| Q1 2025 | $4.62 | -1.3% |
| Q4 2024 | $4.00 | -21% |
THFF earned $7.70 per share over the past year, up 23% 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% |
MS has the edge over THFF 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.
THFF Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $75M | +14% |
| Q2 2026 | $71.9M | +14% |
| Q1 2026 | $68.2M | +9.1% |
| Q4 2025 | $70.6M | +14% |
| Q3 2025 | $65.8M | +13% |
| Q2 2025 | $63.1M | +28% |
| Q1 2025 | $62.5M | +29% |
| Q4 2024 | $61.8M | +22% |
THFF's revenue has grown year over year for nine quarters in a row: $75M last quarter, up 14% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 46% | +6.8 points |
| Q2 2026 | 39% | +2.8 points |
| Q1 2026 | 36% | -1.8 points |
| Q4 2025 | 37% | +5 points |
| Q3 2025 | 39% | +21 points |
| Q2 2025 | 36% | +8.6 points |
| Q1 2025 | 38% | +11 points |
| Q4 2024 | 32% | +4.7 points |
THFF 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.
THFF Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $34.9M | +36% |
| Q2 2026 | $16.8M | +45% |
| Q1 2026 | $21.9M | +7% |
| Q4 2025 | $28.6M | +93% |
| Q3 2025 | $25.8M | +32% |
| Q2 2025 | $11.6M | +37% |
| Q1 2025 | $20.5M | +79% |
| Q4 2024 | $14.8M | -21% |
THFF 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 THFF on shareholder dilution, with a more favorable share count trend.
THFF Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -- |
| 1 year | +0.3% | +41K shares |
| 3 years | -0.1% | -9K shares |
| 5 years | -11% | -1.5M shares |
| Available history | -7.6% | -973K shares |
THFF has 12M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | — |
| Q1 2026 | $332,000 |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | $795,000 |
| Q4 2024 | — |
THFF has spent almost nothing on buybacks in the past year.
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.
THFF Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.4x | Healthy |
| Q2 2026 | 1.7x | Healthy |
| Q1 2026 | 1.0x | Healthy |
| Q4 2025 | 0.5x | Very low |
| Q3 2025 | 0.8x | Very low |
| Q2 2025 | 0.3x | Very low |
| Q1 2025 | 0.5x | Very low |
| Q4 2024 | -1.0x | Net Cash |
THFF 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).
THFF Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 57.1 | Neutral |
| Stochastic | 39.3 | Neutral |
THFF's weekly RSI is 57 (neutral) and its Stochastic is 39 (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.
THFF PE vs Financial Services Sector
| Metric | THFF | Sector median | Relative |
|---|---|---|---|
| PE | 10x | 13x | 23% below |
| PE % | 58 | 63 | 5 pts below |
THFF 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.
THFF Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $75.5 | 2% above |
| 20 week MA | $77.3 | 0.4% below |
| 50 week MA | $70.4 | 9.4% above |
| 100 week MA | $61.2 | 26% above |
| 200 week MA | $50.1 | 54% above |
THFF 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.
THFF Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $45.9 | $39.1 | -15% |
| 2021 | $39.1 | $45.0 | +15% |
| 2022 | $45.0 | $46.4 | +3% |
| 2023 | $46.4 | $43.0 | -7.2% |
| 2024 | $43.0 | $46.6 | +8.3% |
| 2025 | $46.6 | $62.0 | +33% |
| 2026 YTD | $62.0 | $77.0 | +24% |
THFF has the edge over MS on returns for 2026, with the stronger performance.