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STOCK COMPARISON

Morgan Stanley vs Norwegian Block Exchange AS: Fair Value & Quality

Both stocks run through our valuation models. Here is how Morgan Stanley (MS) and Norwegian Block Exchange AS (NBX) 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: Morgan Stanley trades at $198 versus a fair value of $313 (+58%), while Norwegian Block Exchange AS trades at NOK 0.51 versus NOK 0.05 (-90%).
Morgan Stanley
MS · USD · Financials
+58%
upside to fair value
undervalued
Price$198
Fair Value$313
Quality67/100
Norwegian Block Exchange AS
NBX.OL · NOK · Financials
-90%
upside to fair value
overvalued
PriceNOK 0.51
Fair ValueNOK 0.05
Quality25/100
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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

Morgan StanleyNorwegian Block Exchange AS
Valuation
18.0×P/E (TTM)n/a
4.79×P/S (TTM)0.95×
3.14×P/B0.20×
22.1×EV/EBITDAn/a
2.64×PEGn/a
+57.6%Fair value upside−89.9%
2.0%Dividend yieldn/a
$4.00Dividend per sharen/a
Profitability
41%Operating margin-134%
0.66×EBIT margin trend (5Y)n/a
16%Return on equity-18%
1%Return on assets-8%
Growth
16%Revenue growth (YoY)-16%
22.5%Avg. growth/yr (3Y)147.3%
18.3%Avg. growth/yr (5Y)89.3%
+8.3%Value creation/yrn/a
Balance & size
0.4×Interest coverage (EBIT/interest)n/a
3.13×Debt / equity0.22×
$351BMarket cap$18M
mixedGrowth qualitymixed

Norwegian Block Exchange AS leads: 3 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.

Morgan Stanleyof which business quality 62 · market factors 58 Norwegian Block Exchange ASof which business quality 25 · market factors 32
ProfitabilityMargins and returns on capital today
31
1
Quality GrowthAre margins and returns improving?
56
68
CashflowEarnings quality: real cash, not paper profit
100
10
Fin. StrengthBalance sheet, leverage, solvency risk
26
53
InvestmentDisciplined investing over empire-building
82
22
Low VolatilityCalm price path (market factor)
57
31
MomentumPrice trend over the last 3–12 months (market factor)
57
37
52W MomentumDistance to the 52-week high (market factor)
62
24
Net IssuanceShare count: buybacks or dilution?
96
0

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 familyMorgan StanleyPrice $198Norwegian Block Exchange ASPrice NOK 0.51
DCF Models+106%above the price$408n/a
Earnings-Based+8%close to the price$214n/a
Dividend Discount-60%below the price$79.85n/a
Multiples-40%below the price$119n/a
Asset-Based-76%below the price$47.42-58%below the priceNOK 0.21
Growth DCF+229%above the price$653n/a
Economic Profit-52%below the price$95.82n/a
Minimum-76%below the price$47.42-58%below the priceNOK 0.21
Maximum+229%above the price$653-58%below the priceNOK 0.21
Median-40%below the price$119-58%below the priceNOK 0.21
Geometric mean-20%below the price$158-58%below the priceNOK 0.21

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%.

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

Norwegian Block Exchange AS: 1 of 1 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.

Morgan Stanley
Price $198
Fair Value $313
Bear $104Bull $427
Norwegian Block Exchange AS
Price NOK 0.51
Fair Value NOK 0.05
Bear NOK 0.03Bull NOK 0.08

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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.

Morgan Stanley · Financials

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

Norwegian Block Exchange AS · Financials

Quality score25 · bottom 25%
Fair value upside-90% · bottom 25%

Bottom line

As of Sep 25, 2026, Fair Value Calculator sees Morgan Stanley as the more attractively valued of the two: Morgan Stanley trades at $198 versus a fair value of $313 (+58%), while Norwegian Block Exchange AS trades at NOK 0.51 versus NOK 0.05 (-90%).

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

Open Morgan Stanley live analysis →
Morgan Stanley · Norwegian Block Exchange AS

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