MS
Morgan Stanley
MS offers stronger modeled upside, but that advantage does not outweigh its weaker overall profile.
TOWN
TowneBank
TOWN has the edge over MS overall, supported by stronger valuation and stronger fundamentals.
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.
TOWN Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| N/A | |
| N/A |
TOWN's revenue and profitability are currently strong. Free cash flow and net leverage aren't meaningful measures for financial services companies like TOWN.
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.
TOWN PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 9.8x | $34.90 | -4.6% |
| Current | 10x | $36.59 | — |
| Forward | 11x | $36.59 | — |
| Fair | 12x | $44.23 | +21% |
| Expensive | 16x | $57.49 | +57% |
Historical ranges are pointers, not guarantees.
TOWN 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 TOWN on the outlook, with more favorable valuation and profitability expectations.
TOWN Forward outlook
| Metric | Outlook |
|---|---|
| Deteriorating | |
| Growth | |
| Growth | |
| Stable | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for TOWN, with profitability 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 TOWN on earnings, with more consistent year-over-year improvement.
TOWN Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $3.32 | -6.6% |
| Q2 2026 | $3.56 | +54% |
| Q1 2026 | $1.99 | -16% |
| Q4 2025 | $2.21 | +2.8% |
| Q3 2025 | $2.25 | +13% |
| Q2 2025 | $2.31 | +14% |
| Q1 2025 | $2.36 | +17% |
| Q4 2024 | $2.15 | +3.9% |
| Q3 2024 | $1.99 | -14% |
TOWN earned $3.56 per share over the past year, up 54% 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 TOWN on sales, with more consistent year-over-year improvement.
| 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.
TOWN Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $497.4M | +79% |
| Q1 2026 | $260.5M | -0.2% |
| Q4 2025 | $255.1M | +0.5% |
| Q3 2025 | $287.1M | +11% |
| Q2 2025 | $277.9M | +6.5% |
| Q1 2025 | $261.2M | +4.1% |
| Q4 2024 | $253.9M | +9% |
| Q3 2024 | $258.9M | +6.7% |
TOWN's revenue is growing: $497M last quarter, up 79% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 51% | +33 points |
| Q1 2026 | 19% | -3.4 points |
| Q4 2025 | 21% | +2 points |
| Q3 2025 | 16% | -2.6 points |
| Q2 2025 | 18% | -1.5 points |
| Q1 2025 | 23% | +5.7 points |
| Q4 2024 | 19% | +5.5 points |
| Q3 2024 | 19% | -3.5 points |
TOWN 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.
TOWN Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | -$38.6M | +$3.9M |
| Q1 2026 | $26.9M | -76% |
| Q4 2025 | $102.3M | +15% |
| Q3 2025 | $41.3M | +$97.6M |
| Q2 2025 | -$42.5M | -312% |
| Q1 2025 | $110.6M | +293% |
| Q4 2024 | $89.2M | +145% |
| Q3 2024 | -$56.3M | -162% |
TOWN 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 TOWN on shareholder dilution, with a more favorable share count trend.
TOWN Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +1.9% | +1.7M shares |
| 1 year | +22% | +16.9M shares |
| 3 years | +24% | +17.8M shares |
| 5 years | +27% | +19.9M shares |
| Available history | +28% | +20.2M shares |
TOWN has 92M diluted shares, up 22% from a year ago.
| Quarter | Spent |
|---|---|
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
TOWN hasn't bought back shares 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.
TOWN Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 0.7x | Very low |
| Q1 2026 | 1.7x | Healthy |
| Q4 2025 | 0.5x | Very low |
| Q3 2025 | -3.7x | Net Cash |
| Q2 2025 | -3.4x | Net Cash |
| Q1 2025 | -4.3x | Net Cash |
| Q4 2024 | -4.6x | Net Cash |
| Q3 2024 | -4.8x | Net Cash |
TOWN 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).
TOWN Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 52.8 | Neutral |
| Stochastic | 49.9 | Neutral |
TOWN's weekly RSI is 53 (neutral) and its Stochastic is 50 (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.
TOWN PE vs Financial Services Sector
| Metric | TOWN | Sector median | Relative |
|---|---|---|---|
| PE | 10x | 13x | 21% below |
| PE % | 25 | 63 | 38 pts below |
TOWN 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.
TOWN Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $36.1 | 1.4% above |
| 20 week MA | $36.7 | 0.3% below |
| 50 week MA | $35.6 | 2.9% above |
| 100 week MA | $35.0 | 4.5% above |
| 200 week MA | $31.5 | 16% above |
TOWN 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.
TOWN Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $27.9 | $23.5 | -16% |
| 2021 | $23.5 | $31.6 | +35% |
| 2022 | $31.6 | $30.9 | -2% |
| 2023 | $30.9 | $29.8 | -3.8% |
| 2024 | $29.8 | $34.4 | +16% |
| 2025 | $34.4 | $33.7 | -2.1% |
| 2026 YTD | $33.7 | $36.6 | +8.6% |
TOWN has the edge over MS on returns for 2026, with the stronger performance.