Compare price, profitability, solvency, and SEC-reported financials side by side—before deciding which assumptions deserve a closer look.
Decision snapshot: STE stock price vs MS: inconclusive Relative valuation is incomplete for this pair. Review the available filing metrics before drawing a conclusion.
Quick read
Each company valued on the other's multiple, then compared with the market price.
Implied fair value · at MS's multiple
Needs MS P/E.
Implied fair value · at STE's multiple
Needs STE P/E.
Metric by metric
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Price unavailable
Filter, sort, and scan the equity metrics that matter most for banks: book value, tangible book, returns, and operating efficiency.
Lower is better
Lower is better
Profitability lag
Asset efficiency edge
Lower is better
Statements
Bank-focused income statement and equity metrics aligned to the reporting windows.
SEC periods: STE FY 2026 (ended Mar 31, 2026) · MS FY 2025 (ended Dec 31, 2025). Fiscal years are not aligned.
Trendline
Six fiscal years of revenue, earnings, and margins before underwriting a re-rating.
Price framework
Tangible book and profitability anchor a bank, not enterprise value.
Deposits and cash-like balances distort enterprise value for banks, so this section reads equity value, tangible book and profitability instead.
Price / book
Market cap
—
Tangible equity
$1.37B
Price / tangible book
—
Price / book
—
Return on equity
10.9%
Return on assets
7.3%
Efficiency ratio
—
Price / book
Market cap
—
Tangible equity
$88.90B
Price / tangible book
—
Price / book
—
Return on equity
15.1%
Return on assets
1.2%
Efficiency ratio
62.3%
Price framework
Discounted free cash flow, then bridged to a per-share price. Same assumptions applied to both companies.
STERIS plc · implied price per share
Bear
$101.93
Base
$119.92
Bull
$137.91
MORGAN STANLEY · implied price per share
Bank model off — standard DCF modelling is disabled for financial institutions.
Balance sheet health
Financial health checks to separate durable balance sheets from potential value traps.
Financial strength on a 0–9 scale.
Bankruptcy-risk signal from balance sheet and earnings power.
Not enough data to score either balance sheet.
Debt / equity
Total debt against shareholders' equity
0.27x
3.28x
Net debt / EBITDA
Leverage against operating earnings
1.02x
1.73x
Cash and equivalents
Liquid reserves on the balance sheet
$220.53M
$172.76B
Total debt
Interest-bearing obligations outstanding
$1.93B
$365.92B
Comparable set
Where the pair sits against the wider banking comparable set.
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