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STOCK COMPARISON

JPMorgan Chase & vs Morgan Stanley: Fair Value & Quality

Both stocks run through our valuation models. Here is how JPMorgan Chase & (JPM) and Morgan Stanley (MS) compare, as of Oct 21, 2026.

As of Oct 21, 2026, Fair Value Calculator sees Morgan Stanley as the more attractively valued of the two: JPMorgan Chase & trades at $335 versus a fair value of $187 (−44.2%), while Morgan Stanley trades at $180 versus $314 (+74.1%).
JPMorgan Chase &
JPM · USD · Financials
−44.2%
upside to fair value
overvalued
Price$335
Fair Value$187
Quality64/100
Morgan Stanley
MS · USD · Financials
+74.1%
upside to fair value
undervalued
Price$180
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

JPMorgan Chase &Morgan Stanley
Valuation
14.1×P/E (TTM)14.3×
13.4×Forward P/E (FY2027)13.2×
12.1×Median P/E at FY-end (10 FY, ex one-offs where documented)13.1×
4.91×P/S (TTM)3.60×
2.58×P/B2.57×
12.6×EV/EBITDA19.7×
1.57×PEG1.76×
−44.2%Fair value upside+74.1%
1.8%Dividend yield2.4%
$6.15Dividend per share$4.30
Profitability
42.6%Operating margin39.9%
0.94×EBIT margin trend (5Y)0.66×
18.0%Return on equity18.0%
1.3%Return on assets1.2%
Growth
10.2%Revenue growth (YoY)10.8%
22.1%Avg. growth/yr (3Y)22.5%
16.6%Avg. growth/yr (5Y)18.3%
+14.4%Value creation/yr+8.7%
Balance & size
0.7×Interest coverage (EBIT/interest)0.4×
1.20×Debt / equity3.13×
$937BMarket cap$287B
healthyGrowth qualitymixed
JPMorgan Chase &, median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings, FY2020, FY2023 ex one-offs: 12.1. 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.

JPMorgan Chase & leads: 10 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.

JPMorgan Chase & Morgan Stanley
ProfitabilityHow much profit the company makes from its sales and capital
35
31
Quality GrowthAre margins and returns getting better?
44
56
CashflowDo the profits arrive as real cash?
96
100
Financial strengthDebt, balance sheet and risk of trouble
26
26
InvestmentDoes it invest with discipline instead of growing at any price?
77
82
Low VolatilityHow calm the share price moves, does not count
72
58
MomentumPrice trend of the last 3 to 12 months, does not count
49
42
Near the 52-week highDistance to the 52-week high, does not count
57
44
New sharesBuys back shares or issues new ones?
90
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 familyJPMorgan Chase &Price $335Morgan StanleyPrice $180
DCF Modelsn/a+115.5%above the price$389
Earnings-Basedn/a+18.9%above the price$215
Dividend Discount−76.6%below the price$78.53−60.3%below the price$71.64
Multiples−34.9%below the price$218−39.4%below the price$109
Asset-Based−77.6%below the price$75.18−79.0%below the price$37.92
Growth DCFn/a+221.5%above the price$580
Economic Profit−44.2%below the price$187−49.3%below the price$91.53
Minimum−77.6%below the price$75.18−79.0%below the price$37.92
Maximum−34.9%below the price$218+221.5%above the price$580
Median−60.4%below the price$133−39.4%below the price$109
Geometric mean−62.8%below the price$125−19.9%below the price$145

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%.

JPMorgan Chase &: 6 of 6 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.

JPMorgan Chase &
Price $335
Fair Value $187
Bear $144Bull $273
Morgan Stanley
Price $180
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.

JPMorgan Chase & · Financials

Quality score64 · Top 25%
Fair value upside−44.2% · bottom 25%

Morgan Stanley · Financials

Quality score66 · Top 25%
Fair value upside+74.1% · Top 25%

Bottom line

As of Oct 21, 2026, Fair Value Calculator sees Morgan Stanley as the more attractively valued of the two: JPMorgan Chase & trades at $335 versus a fair value of $187 (−44.2%), while Morgan Stanley trades at $180 versus $314 (+74.1%).

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.