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STOCK COMPARISON

Reliance Securities Co.,Ltd. vs Morgan Stanley: Fair Value & Quality

Both stocks run through our valuation models. Here is how Reliance Securities Co.,Ltd. (6027) 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: Reliance Securities Co.,Ltd. trades at TWD 14.05 versus a fair value of TWD 12.07 (-14%), while Morgan Stanley trades at $198 versus $313 (+58%).
Reliance Securities Co.,Ltd.
6027.TWO · TWD · Financials
-14%
upside to fair value
overvalued
PriceTWD 14.05
Fair ValueTWD 12.07
Quality57/100
Morgan Stanley
MS · USD · Financials
+58%
upside to fair value
undervalued
Price$198
Fair Value$313
Quality67/100
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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

Reliance Securities Co.,Ltd.Morgan Stanley
Valuation
13.5×P/E (TTM)18.0×
5.68×P/S (TTM)4.79×
0.85×P/B3.14×
19.7×EV/EBITDA22.1×
n/aPEG2.64×
−14.1%Fair value upside+57.6%
n/aDividend yield2.0%
n/aDividend per share$4.15
Profitability
61%Operating margin41%
0.23×EBIT margin trend (5Y)0.66×
6%Return on equity16%
5%Return on assets1%
Growth
309%Revenue growth (YoY)16%
n/aAvg. growth/yr (3Y)22.5%
-2.3%Avg. growth/yr (5Y)18.3%
−6.4%Value creation/yr+8.3%
Balance & size
34.8×Interest coverage (EBIT/interest)0.4×
n/aDebt / equity3.13×
$69MMarket cap$351B
weakGrowth qualitymixed

Even match: 6 to 6 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.

Reliance Securities Co.,Ltd.of which business quality 54 · market factors 80 Morgan Stanleyof which business quality 61 · market factors 58
ProfitabilityMargins and returns on capital today
39
31
Quality GrowthAre margins and returns improving?
59
56
CashflowEarnings quality: real cash, not paper profit
37
100
Fin. StrengthBalance sheet, leverage, solvency risk
77
26
InvestmentDisciplined investing over empire-building
51
82
Low VolatilityCalm price path (market factor)
50
58
MomentumPrice trend over the last 3–12 months (market factor)
91
57
52W MomentumDistance to the 52-week high (market factor)
95
61
Net IssuanceShare count: buybacks or dilution?
69
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 familyReliance Securities Co.,Ltd.Price TWD 14.05Morgan StanleyPrice $198
DCF Models+27%above the priceTWD 17.91+107%above the price$410
Earnings-Based+206%above the priceTWD 42.94+8%close to the price$215
Dividend Discountn/a-60%below the price$80.18
Multiples+11%close to the priceTWD 15.63-40%below the price$120
Asset-Based-21%below the priceTWD 11.03-76%below the price$47.62
Growth DCF-81%below the priceTWD 2.68+231%above the price$656
Economic Profit-17%below the priceTWD 11.71-51%below the price$96.23
Minimum-81%below the priceTWD 2.68-76%below the price$47.62
Maximum+206%above the priceTWD 42.94+231%above the price$656
Median-3%close to the priceTWD 13.67-40%below the price$120
Geometric mean-10%close to the priceTWD 12.68-20%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%.

Reliance Securities Co.,Ltd.: 6 of 11 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.

Reliance Securities Co.,Ltd.
Price TWD 14.05
Fair Value TWD 12.07
Bear TWD 7.16Bull TWD 12.07
Morgan Stanley
Price $198
Fair Value $313
Bear $104Bull $427

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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.

Reliance Securities Co.,Ltd. · Financials

Quality score57 · above median
Fair value upside-14% · below median

Morgan Stanley · Financials

Quality score67 · Top 25%
Fair value upside+58% · Top 25%

Bottom line

As of Sep 25, 2026, Fair Value Calculator sees Morgan Stanley as the more attractively valued of the two: Reliance Securities Co.,Ltd. trades at TWD 14.05 versus a fair value of TWD 12.07 (-14%), while Morgan Stanley trades at $198 versus $313 (+58%).

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

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.