China Merchants Securities Co vs Morgan Stanley: Fair Value & Quality
Both stocks run through our valuation models. Here is how China Merchants Securities Co (600999) and Morgan Stanley (MS) compare, as of Sep 22, 2026.
Head-to-head numbers
Green value = the better side for that row (for valuation multiples: lower = cheaper).
China Merchants Securities Co leads: 8 to 6 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.
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 | China Merchants Securities CoPrice ¥17.59 | Morgan StanleyPrice $203 |
|---|---|---|
| DCF Models | n/a | ▼-36%below the price$130 |
| Earnings-Based | n/a | ●+5%close to the price$214 |
| Dividend Discount | n/a | ▼-61%below the price$79.85 |
| Multiples | ●-12%close to the price¥15.43 | ▼-41%below the price$119 |
| Asset-Based | ▼-31%below the price¥12.16 | ▼-77%below the price$47.42 |
| Growth DCF | n/a | ▲+64%above the price$332 |
| Economic Profit | n/a | ▼-53%below the price$95.82 |
| Minimum | ▼-31%below the price¥12.16 | ▼-77%below the price$47.42 |
| Maximum | ●-12%close to the price¥15.43 | ▲+64%above the price$332 |
| Median | ▼-22%below the price¥13.80 | ▼-41%below the price$119 |
| Geometric mean | ▼-22%below the price¥13.70 | ▼-40%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%.
China Merchants Securities Co: 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 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.
Compare two other stocks
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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.
China Merchants Securities Co · Financials
Morgan Stanley · Financials
Bottom line
As of Sep 22, 2026, Fair Value Calculator sees Morgan Stanley as the less overvalued of the two: China Merchants Securities Co trades at ¥17.59 versus a fair value of ¥15.28 (-13%), while Morgan Stanley trades at $203 versus $186 (-8%).
Morgan Stanley has the higher quality score (67/100).
See the full analysis →More comparisons
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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.