Is Samsung Securities or Morgan Stanley more undervalued?

As of Nov 6, 2026, Samsung Securities is at +29.9% to fair value and Morgan Stanley at +43.7%. Morgan Stanley is the more undervalued of the two. Model-based estimate, not financial advice.

Which has higher quality, Samsung Securities or Morgan Stanley?

Samsung Securities has a quality score of 53/100 and Morgan Stanley 67/100. Morgan Stanley leads on quality.

STOCK COMPARISON

Samsung Securities vs Morgan Stanley: Fair Value & Quality

Both stocks run through our valuation models. Here is how Samsung Securities (016360) and Morgan Stanley (MS) compare, as of Nov 6, 2026.

As of Nov 6, 2026, Fair Value Calculator sees Morgan Stanley as the more attractively valued of the two: Samsung Securities trades at KRW 74,000 versus a fair value of KRW 96,145 (+29.9%), while Morgan Stanley trades at $181 versus $261 (+43.7%).

Samsung Securities

016360.KO · KRW · Financials

+29.9%

upside to fair value

undervalued

PriceKRW 74,000

Fair ValueKRW 96,145

Quality53/100

Fair ValueQualityUptrend

Morgan Stanley

MS · USD · Financials

+43.7%

upside to fair value

undervalued

Price$181

Fair Value$261

Quality67/100

Meets all rules

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Head-to-head numbers

Green is the better side of a row, red the weaker one (for valuation multiples: lower = cheaper). Grey rows are for reference only and are not scored.

betterweakerfor reference, not scored

Samsung SecuritiesMorgan Stanley

Valuation

4.6×P/E (TTM)14.4×

4.4×Forward P/E (FY2027)13.3×

6.7×Median P/E at FY-end (ex one-offs where documented)13.1×

0.31×P/S (TTM)3.62×

0.82×P/B2.59×

n/aEV/EBITDA19.8×

n/aPEG1.76×

+29.9%Fair value upside+43.7%

5.4%Dividend yield2.4%

KRW 4,000Dividend per share$4.30

Profitability

18.0%Operating margin39.9%

n/aEBIT margin trend (5Y)0.66×

18.1%Return on equity18.0%

1.3%Return on assets1.2%

Growth

159.1%Revenue growth (YoY)10.8%

21.9%Avg. growth/yr (3Y)22.5%

11.1%Avg. growth/yr (5Y)18.3%

+20.1%Value creation/yr+8.7%

Balance & size

1.4×Interest coverage (EBIT/interest)0.4×

0.26×Debt / equity3.13×

$5BMarket cap$289B

expensiveGrowth qualitymixed

Samsung Securities, median P/E at fiscal year-end, 9 fiscal years (2017 to 2025), reported earnings, FY2025 ex one-offs: 6.7. Morgan Stanley, median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings, FY2022, FY2023 ex one-offs: 13.1.

Forward P/E: price divided by the analyst consensus for the first fiscal year that has not started yet. The current year carries special items from quarters already reported. Samsung Securities: FY 2026 earnings estimate probably distorted by a special item known to analysts (18438.97 is not between the FY 2025 actual of 11279.13 and the FY 2027 estimate of 16647.21).

Samsung Securities leads: 8 to 5 metric wins.

n/a = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

Samsung Securities Morgan Stanley

ProfitabilityHow much profit the company makes from its sales and capital

Quality GrowthAre margins and returns getting better?

CashflowDo the profits arrive as real cash?

100

Financial strengthDebt, balance sheet and risk of trouble

InvestmentDoes it invest with discipline instead of growing at any price?

Low VolatilityHow calm the share price moves, does not count

Price momentumPrice momentum of the last 3 to 12 months, does not count

Near the 52-week highDistance to the 52-week high, does not count

New sharesBuys back shares or issues new ones?

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model family	Samsung SecuritiesPrice KRW 74,000	Morgan StanleyPrice $181
DCF Models	n/a	+43.7%above the price$261
Earnings-Based	n/a	+18.2%above the price$215
Dividend Discount	−27.5%below the priceKRW 53,641	−60.5%below the price$71.64
Multiples	+39.3%above the priceKRW 103,084	−39.7%below the price$109
Asset-Based	−19.5%below the priceKRW 59,569	−79.1%below the price$37.92
Growth DCF	n/a	+122.9%above the price$404
Economic Profit	+29.9%above the priceKRW 96,145	−49.6%below the price$91.53
Matching families	4 of 7
Minimum	−27.5%below the priceKRW 53,641	−79.1%below the price$37.92
Maximum	+39.3%above the priceKRW 103,084	−39.7%below the price$109
Median	+5.2%close to the priceKRW 77,857	−55.0%below the price$81.59
Geometric mean	+1.4%close to the priceKRW 75,017	−60.2%below the price$72.22
Ahead family by family	4 of 4	0 of 4

Minimum, maximum, median and geometric mean only use the families both stocks have (matching families: 4 of 7), so a family without a value on one side does not distort the comparison. Ahead in a family is the stock whose fair value there sits higher relative to its price. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

Family by family: Samsung Securities is ahead in 4 of 4 shared families, Morgan Stanley in none.

Samsung Securities: 4 of 6 models see the stock below the current price.

Morgan Stanley: 9 of 13 models see the stock below the current price.

Samsung Securities, Morgan Stanley: The fair value at the top is not the result of a single model. It starts from the evidence-weighted blend of the models and is adjusted afterwards, so it can sit above or below the models.

Scenario ranges

From our cautious bear scenario to the optimistic bull scenario. The white tick is the current price (value above it), the green tick the fair value (value below it): if the price sits left of the fair value, there is room to rise.

Samsung Securities

Price KRW 74,000

Fair Value KRW 96,145

Bear KRW 77,313Bull KRW 128,855

Morgan Stanley

Price $181

Fair Value $261

Bear $105Bull $399

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

Samsung Securities · Financials

Quality score53 · below median

Fair value upside+29.9% · above median

Morgan Stanley · Financials

Quality score67 · Top 25%

Fair value upside+43.7% · above median

Bottom line

Morgan Stanley has the higher quality score (67/100).

Open Morgan Stanley live analysis →

Samsung Securities · Morgan Stanley

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.