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STOCK COMPARISON

Fu Shek Financial Holdings vs Morgan Stanley: Fair Value & Quality

Both stocks run through our valuation models. Here is how Fu Shek Financial Holdings (2263) and Morgan Stanley (MS) compare, as of Oct 1, 2026.

As of Oct 1, 2026, Fair Value Calculator sees Morgan Stanley as the more attractively valued of the two: Fu Shek Financial Holdings trades at HK$0.35 versus a fair value of HK$0.04 (−88.4%), while Morgan Stanley trades at $188 versus $314 (+67.0%).
Fu Shek Financial Holdings
2263.HK · HKD · Financials
−88.4%
upside to fair value
overvalued
PriceHK$0.35
Fair ValueHK$0.04
Quality63/100
Morgan Stanley
MS · USD · Financials
+67.0%
upside to fair value
undervalued
Price$188
Fair Value$314
Quality66/100
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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

Fu Shek Financial HoldingsMorgan Stanley
Valuation
34.5×P/E (TTM)15.4×
n/aForward P/E (FY2027)13.7×
n/aMedian P/E at FY-end (10 FY, ex one-offs where documented)13.1×
10.12×P/S (TTM)3.85×
0.96×P/B2.68×
2.6×EV/EBITDA20.2×
n/aPEG1.76×
−88.4%Fair value upside+67.0%
n/aDividend yield2.2%
n/aDividend per share$4.15
Profitability
50.9%Operating margin41.6%
0.21×EBIT margin trend (5Y)0.66×
2.8%Return on equity18.0%
1.8%Return on assets1.4%
Growth
-21.1%Revenue growth (YoY)28.0%
-5.6%Avg. growth/yr (3Y)22.5%
-11.7%Avg. growth/yr (5Y)18.3%
−30.3%Value creation/yr+8.5%
Balance & size
24.6×Interest coverage (EBIT/interest)0.4×
n/aDebt / equity3.13×
$44MMarket cap$300B
weakGrowth qualitymixed
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.

Morgan Stanley leads: 5 to 8 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.

Fu Shek Financial Holdingsof which business quality 58 · market factors 61 Morgan Stanleyof which business quality 61 · market factors 55
ProfitabilityMargins and returns on capital today
18
31
Quality GrowthAre margins and returns improving?
40
56
CashflowEarnings quality: real cash, not paper profit
33
100
Fin. StrengthBalance sheet, leverage, solvency risk
100
26
InvestmentDisciplined investing over empire-building
97
82
Low VolatilityCalm price path (market factor)
54
58
MomentumPrice trend over the last 3–12 months (market factor)
59
54
52W MomentumDistance to the 52-week high (market factor)
71
53
Net IssuanceShare count: buybacks or dilution?
82
87

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 familyFu Shek Financial HoldingsPrice HK$0.35Morgan StanleyPrice $188
DCF Modelsn/a+118.0%above the price$410
Earnings-Based−94.2%below the priceHK$0.02+14.1%close to the price$215
Dividend Discountn/a−57.4%below the price$80.18
Multiples−87.0%below the priceHK$0.05−36.4%below the price$120
Asset-Based−30.4%below the priceHK$0.24−74.7%below the price$47.62
Growth DCFn/a+248.9%above the price$656
Economic Profit−33.3%below the priceHK$0.23−48.8%below the price$96.23
Minimum−94.2%below the priceHK$0.02−74.7%below the price$47.62
Maximum−30.4%below the priceHK$0.24+248.9%above the price$656
Median−60.1%below the priceHK$0.14−36.4%below the price$120
Geometric mean−75.7%below the priceHK$0.08−15.6%below the price$159

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%.

Fu Shek Financial Holdings: 5 of 5 models see the stock below the current price.

Morgan Stanley: 7 of 13 models see the stock below the current price.

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.

Fu Shek Financial Holdings
Price HK$0.35
Fair Value HK$0.04
Bear HK$0.03Bull HK$0.05
Morgan Stanley
Price $188
Fair Value $314
Bear $105Bull $429

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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.

Fu Shek Financial Holdings · Financials

Quality score63 · Top 25%
Fair value upside−88.4% · bottom 25%

Morgan Stanley · Financials

Quality score66 · Top 25%
Fair value upside+67.0% · Top 25%

Bottom line

As of Oct 1, 2026, Fair Value Calculator sees Morgan Stanley as the more attractively valued of the two: Fu Shek Financial Holdings trades at HK$0.35 versus a fair value of HK$0.04 (−88.4%), while Morgan Stanley trades at $188 versus $314 (+67.0%).

Morgan Stanley has the higher quality score (66/100).

Open Morgan Stanley live analysis →

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