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STOCK COMPARISON

Good Finance Securities Co vs Morgan Stanley: Fair Value & Quality

Both stocks run through our valuation models. Here is how Good Finance Securities Co (6021) and Morgan Stanley (MS) compare, as of Sep 25, 2026.

As of Sep 25, 2026, Fair Value Calculator sees Morgan Stanley as the more attractively valued of the two: Good Finance Securities Co trades at TWD 41.80 versus a fair value of TWD 26.59 (-36%), while Morgan Stanley trades at $196 versus $314 (+60%).
Good Finance Securities Co
6021.TWO · TWD · Financials
-36%
upside to fair value
overvalued
PriceTWD 41.80
Fair ValueTWD 26.59
Quality41/100
Morgan Stanley
MS · USD · Financials
+60%
upside to fair value
undervalued
Price$196
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

Good Finance Securities CoMorgan Stanley
Valuation
7.3×P/E (TTM)16.0×
2.83×P/S (TTM)4.02×
1.34×P/B2.80×
64.5×EV/EBITDA20.7×
n/aPEG1.76×
−36.4%Fair value upside+60.0%
4.8%Dividend yield2.1%
TWD 2.00Dividend per share$4.15
Profitability
83%Operating margin42%
1.50×EBIT margin trend (5Y)0.66×
35%Return on equity18%
10%Return on assets1%
Growth
469%Revenue growth (YoY)28%
11.2%Avg. growth/yr (3Y)22.5%
10.9%Avg. growth/yr (5Y)18.3%
+65.7%Value creation/yr+8.4%
Balance & size
1.7×Interest coverage (EBIT/interest)0.4×
0.29×Debt / equity3.13×
$411MMarket cap$313B
expensiveGrowth qualitymixed

Good Finance Securities Co leads: 10 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.

Good Finance Securities Coof which business quality 37 · market factors 78 Morgan Stanleyof which business quality 61 · market factors 58
ProfitabilityMargins and returns on capital today
39
31
Quality GrowthAre margins and returns improving?
50
56
CashflowEarnings quality: real cash, not paper profit
32
100
Fin. StrengthBalance sheet, leverage, solvency risk
25
26
InvestmentDisciplined investing over empire-building
0
82
Low VolatilityCalm price path (market factor)
64
58
MomentumPrice trend over the last 3–12 months (market factor)
80
57
52W MomentumDistance to the 52-week high (market factor)
92
61
Net IssuanceShare count: buybacks or dilution?
77
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 familyGood Finance Securities CoPrice TWD 41.80Morgan StanleyPrice $196
DCF Modelsn/a+109%above the price$410
Earnings-Basedn/a+9%close to the price$215
Dividend Discountn/a-59%below the price$80.18
Multiples-36%below the priceTWD 26.59-39%below the price$120
Asset-Based-50%below the priceTWD 20.96-76%below the price$47.62
Growth DCFn/a+234%above the price$656
Economic Profitn/a-51%below the price$96.23
Minimum-50%below the priceTWD 20.96-76%below the price$47.62
Maximum-36%below the priceTWD 26.59+234%above the price$656
Median-43%below the priceTWD 23.78-39%below the price$120
Geometric mean-44%below the priceTWD 23.61-19%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%.

Good Finance Securities Co: 2 of 2 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.

Good Finance Securities Co
Price TWD 41.80
Fair Value TWD 26.59
Bear TWD 19.94Bull TWD 33.23
Morgan Stanley
Price $196
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.

Good Finance Securities Co · Financials

Quality score41 · bottom 25%
Fair value upside-36% · below median

Morgan Stanley · Financials

Quality score66 · Top 25%
Fair value upside+60% · Top 25%

Bottom line

As of Sep 25, 2026, Fair Value Calculator sees Morgan Stanley as the more attractively valued of the two: Good Finance Securities Co trades at TWD 41.80 versus a fair value of TWD 26.59 (-36%), while Morgan Stanley trades at $196 versus $314 (+60%).

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

Open Morgan Stanley live 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.