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STOCK COMPARISON

Meritz Financi vs Morgan Stanley: Fair Value & Quality

Both stocks run through our valuation models. Here is how Meritz Financi (138040) and Morgan Stanley (MS) compare, as of Sep 5, 2026.

As of Sep 5, 2026, Fair Value Calculator sees Morgan Stanley as the less overvalued of the two: Meritz Financi trades at KRW 135,500 versus a fair value of KRW 52,717 (-61%), while Morgan Stanley trades at $217 versus $139 (-36%).
Meritz Financi
138040.KO · KRW · Financials
-61%
upside to fair value
overvalued
PriceKRW 135,500
Fair ValueKRW 52,717
Quality38/100
Morgan Stanley
MS · USD · Financials
-36%
upside to fair value
overvalued
Price$217
Fair Value$139
Quality67/100
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Head-to-head numbers

Green value = the better side for that row (for valuation multiples: lower = cheaper).

Meritz FinanciMorgan Stanley
Valuation
P/E (TTM)20.1×
P/S (TTM)4.79×
P/B3.14×
EV/EBITDA22.1×
PEG2.64×
−61.1%Fair value upside−36.0%
1.9%Dividend yield1.8%
Dividend per share$4.00
Profitability
51%Operating margin41%
1.68×EBIT margin trend (5Y)0.66×
21%Return on equity16%
2%Return on assets1%
Growth
51%Revenue growth (YoY)16%
-3.0%Avg. growth/yr (3Y)22.5%
4.0%Avg. growth/yr (5Y)18.3%
+31.6%Value creation/yr+11.1%
Balance & size
1.0×Interest coverage (EBIT/interest)0.4×
3.21×Debt / equity3.13×
$13BMarket cap$351B
weakGrowth qualitymixed

Meritz Financi leads: 6 to 5 metric wins.

Dash = 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.

Meritz Financiof which business quality 33 · market factors 57 Morgan Stanleyof which business quality 62 · market factors 72
ProfitabilityMargins and returns on capital today
45
31
Quality GrowthAre margins and returns improving?
54
56
CashflowEarnings quality: real cash, not paper profit
0
100
Fin. StrengthBalance sheet, leverage, solvency risk
23
26
InvestmentDisciplined investing over empire-building
44
82
Low VolatilityCalm price path (market factor)
57
58
MomentumPrice trend over the last 3–12 months (market factor)
52
73
52W MomentumDistance to the 52-week high (market factor)
65
87
Net IssuanceBuybacks instead of dilution
50
96

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 familyMeritz FinanciPrice KRW 135,500Morgan StanleyPrice $217
DCF Modelsn/a-40%below the price$130
Earnings-Basedn/a-2%close to the price$214
Dividend Discountn/a-63%below the price$79.85
Multiples-61%below the priceKRW 53,250-45%below the price$119
Asset-Based-69%below the priceKRW 41,974-78%below the price$47.42
Growth DCFn/a+53%above the price$332
Economic Profitn/a-56%below the price$95.82
Minimum-69%below the priceKRW 41,974-78%below the price$47.42
Maximum-61%below the priceKRW 53,250+53%above the price$332
Median-65%below the priceKRW 47,612-45%below the price$119
Geometric mean-65%below the priceKRW 47,277-44%below the price$122

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

Meritz Financi: 2 of 2 models see the stock below the current price.

Morgan Stanley: 11 of 13 models see the stock below the current price.

Scenario ranges

From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.

Meritz Financi
Bear KRW 39,538Fair Value KRW 52,717Bull KRW 65,896
KRW 135,500 = current price (white tick)
Morgan Stanley
Bear $77.78Fair Value $139Bull $228
$217 = current price (white tick)

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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.

Meritz Financi · Financials

Quality score38 · bottom 25%
Fair value upside-61% · bottom 25%

Morgan Stanley · Financials

Quality score67 · Top 25%
Fair value upside-36% · below median

Bottom line

As of Sep 5, 2026, Fair Value Calculator sees Morgan Stanley as the less overvalued of the two: Meritz Financi trades at KRW 135,500 versus a fair value of KRW 52,717 (-61%), while Morgan Stanley trades at $217 versus $139 (-36%).

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

See the full analysis →

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