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Morgan Stanley (MS) vs Regeneron Pharmaceuticals, Inc. (REGN): Which Is the Better Buy in 2026?

As of 2026-11-02, MS is undervalued at $184, with a DCF intrinsic value of $314 and a margin of safety of 41%. REGN is overvalued at $928, with an intrinsic value of $730 and a margin of safety of -27%. Of the two, MS has the wider margin of safety.

MS
Morgan Stanley
$184.30
VS
REGN
Regeneron Pharmaceuticals, Inc.
$927.89

Rewards

MS
  • ★Gross margin of 87.3% indicates strong pricing power — typical of businesses with significant intellectual property or brand strength.
  • ★Morgan Stanley scores 80/100 on the Economic Moat Score (Wide Moat), with revenue predictability as the strongest competitive dimension.
  • ★Each dollar of retained earnings has created $3.56 of earning power — management is an exceptional capital allocator.
REGN
  • ★Regeneron Pharmaceuticals, Inc. scores 80/100 on the Economic Moat Score (Wide Moat), with revenue predictability as the strongest competitive dimension.
  • ★Altman Z-Score of 7.56 indicates very low bankruptcy risk — the company is firmly in the safe zone.
  • ★Net debt/EBITDA of -1.2x means the company holds more cash than debt — a net cash position.

Risks

MS
  • ⚠Altman Z-Score of 0.29 places the company in the distress zone — financial patterns resemble those of companies that experienced bankruptcy.
  • ⚠13 insider sales with no purchases over the past 12 months — a persistent pattern of insider selling.
REGN
  • ⚠ROIC has declined by 7.3 percentage points over the past 4 years, which may signal competitive erosion.
  • ⚠Each dollar of retained earnings has produced only $0.15 of earning power — shareholders may have been better served by dividends.
  • ⚠Insiders have sold $3.3M worth of stock in the past 3 months — significant insider liquidation.

Key Valuation Metrics

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MS
REGN
Valuation
N/A
Free Cash Flow
$3.77B
N/A
FCF Yield
3.92%
14.62
Trailing P/E
20.51
13.50
Forward P/E
13.73
Quality & Moat
3.47%
ROIC
14.92%
13.84%
ROE
14.95%
87.31%
Gross Margin
46.73%
1.61
PEG Ratio
1.58
Balance Sheet Safety
Net cash
Net Debt / Equity
Net cash
N/A
Interest Coverage
N/A
N/A
Net Debt / EBITDA
-1.17
2.50%
Dividend Yield
0.41%
MS: 4Ties: 3REGN: 2
MSREGN

Historical Fundamentals

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MS

Price ÷ Earnings Per Share — how many years of current earnings you're paying for at today's price. Lower P/E may indicate undervaluation. The dashed forward point is the forward P/E — today's price ÷ analyst consensus EPS.

REGN

Price ÷ Earnings Per Share — how many years of current earnings you're paying for at today's price. Lower P/E may indicate undervaluation. The dashed forward point is the forward P/E — today's price ÷ analyst consensus EPS.

Price ÷ Earnings Per Share — how many years of current earnings you're paying for at today's price. Lower P/E may indicate undervaluation. The dashed forward point is the forward P/E — today's price ÷ analyst consensus EPS.

$1 Retained Earnings Test

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MS
$6.65
created per $1 retained over 3 years
Exceptional Value Creator
Σ Retained
$20.84B
Δ Market Cap
+$138.59B
Buffett's "$1 Test": For every $1 of earnings retained, has management created at least $1 of market value?
> $1 created per $1 retained = Value Creator · < $1 created = Value Destroyer
REGN
$0.20
created per $1 retained over 3 years
Value Destroyer
Σ Retained
$12.50B
Δ Market Cap
+$2.52B
Buffett's "$1 Test": For every $1 of earnings retained, has management created at least $1 of market value?
> $1 created per $1 retained = Value Creator · < $1 created = Value Destroyer

Buffett's "$1 Test": For every $1 of earnings retained, has management created at least $1 of market value?
> $1 created per $1 retained = Value Creator · < $1 created = Value Destroyer

Discounted Cash Flow (DCF) Analysis

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MS
41.3% Margin of Safety
Price is 41.3% below estimated fair value
Current Price: $184.30
Fair Value: $313.71
Strongly undervalued
Undervalued
Fairly valued
Overvalued
Strongly overvalued
REGN
27.0% Overvalued
Price is 27.0% above estimated fair value
Current Price: $927.89
Fair Value: $730.41
Strongly undervalued
Undervalued
Fairly valued
Overvalued
Strongly overvalued

Reverse DCF — Market-Implied Growth

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MS

Requires positive FCF to compute implied growth rate.

REGN

What growth rate is the market pricing in at $928?

+7.6%
Market-Implied Owner Earnings Growth
Standard FCF implies +10.0%

The market implies +7.6% Owner Earnings growth, above historical trends.

Standard FCF implies a demanding +10.0%, reflecting heavy growth investment.

Economic Moat Score

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MS
80/100
Wide Moat
70+ Wide · 40-69 Narrow · <40 None

Wide moat driven primarily by revenue predictability. Margin Stability is the area most vulnerable to competitive pressure.

Composite score measuring competitive advantage durability across four dimensions: returns above cost of capital, pricing power stability, revenue predictability, and capital efficiency. Based on 4 years of fundamental data.
REGN
80/100
Wide Moat
70+ Wide · 40-69 Narrow · <40 None

Wide moat with strength across all dimensions. Revenue Predictability is the standout factor.

Composite score measuring competitive advantage durability across four dimensions: returns above cost of capital, pricing power stability, revenue predictability, and capital efficiency. Based on 5 years of fundamental data.

Forensic Accounting

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MS
-2.09
Possible Manipulator
Above -1.78 = likely manipulator · -2.22 to -1.78 = grey zone

M-Score Trend

Beneish's 8-variable model estimates the probability of earnings manipulation. An M-Score above -1.78 signals elevated risk — companies in this range have historically been 3-5× more likely to be manipulating earnings. Scores between -2.22 and -1.78 fall in a grey zone warranting further investigation.
REGN
-2.51
Unlikely Manipulator
Above -1.78 = likely manipulator · -2.22 to -1.78 = grey zone

M-Score Trend

Beneish's 8-variable model estimates the probability of earnings manipulation. An M-Score above -1.78 signals elevated risk — companies in this range have historically been 3-5× more likely to be manipulating earnings. Scores between -2.22 and -1.78 fall in a grey zone warranting further investigation.

Beneish's 8-variable model estimates the probability of earnings manipulation. An M-Score above -1.78 signals elevated risk — companies in this range have historically been 3-5× more likely to be manipulating earnings. Scores between -2.22 and -1.78 fall in a grey zone warranting further investigation.

Ownership Breakdown

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MS
Insiders 24.4%Institutions 63.5%Retail & Other 12.1%
No. of Institutional Holders3,458
High insider ownership aligns management incentives with shareholders — a key signal in Buffett-style analysis. Institutional concentration can indicate smart-money conviction but also crowding risk.
REGN
Insiders 2.1%Institutions 93.2%Retail & Other 4.7%
No. of Institutional Holders1,986
High insider ownership aligns management incentives with shareholders — a key signal in Buffett-style analysis. Institutional concentration can indicate smart-money conviction but also crowding risk.

High insider ownership aligns management incentives with shareholders. Institutional concentration can indicate smart-money conviction but also crowding risk.

Insider Buying Activity

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MS
0
Buys (3M)
0
Buys (12M)
PETERSON DOUGLAS L
Director
$5,630
@ $156.39 · 2025-10-17
Open market purchases · includes direct & indirect ownership · excludes option exercises
REGN
0
Buys (3M)
0
Buys (12M)
No open market insider purchases found.
Open market purchases · includes direct & indirect ownership · excludes option exercises

Open market purchases · includes direct & indirect ownership · excludes option exercises.

Insider Selling Activity

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MS
0
Sells (3M)
13
Sells (12M)
Total value (12M): $48.28M
SCHAPIRO MARY L
Director
$212,055
@ $212.06 · 2026-07-28
PIZZI MICHAEL A
Officer
$5.21M
@ $215.55 · 2026-07-17
GROSSMAN ERIC F
Officer
$2.12M
@ $190.75 · 2026-04-20
SIMKOWITZ DANIEL A
President
$2.78M
@ $189.24 · 2026-04-17
CRAWLEY MANDELL L.
Officer
$3.04M
@ $188.22 · 2026-04-16
SAPERSTEIN ANDREW MICHAEL
President
$9.74M
@ $188.59 · 2026-04-16
SIMKOWITZ DANIEL A
President
$6.02M
@ $182.61 · 2026-01-30
YESHAYA SHARON
Chief Financial Officer
$2.94M
@ $185.77 · 2026-01-20
SMITH CHARLES AUBREY III
Officer
$1.55M
@ $182.08 · 2026-01-20
GROSSMAN ERIC F
Officer
$3.97M
@ $184.00 · 2026-01-20
CRAWLEY MANDELL L.
Officer
$1.44M
@ $183.45 · 2026-01-20
PIZZI MICHAEL A
Officer
$3.69M
@ $184.55 · 2026-01-20
SAPERSTEIN ANDREW MICHAEL
President
$5.57M
@ $183.62 · 2026-01-20
PICK EDWARD N.
Chief Executive Officer
$16.43M
@ $164.34 · 2025-10-31
SMITH CHARLES AUBREY III
Officer
$2.81M
@ $140.30 · 2025-07-17
GROSSMAN ERIC F
Officer
$1.69M
@ $141.12 · 2025-07-17
SIMKOWITZ DANIEL A
President
$4.09M
@ $141.13 · 2025-07-17
PIZZI MICHAEL A
Officer
$2.53M
@ $140.62 · 2025-07-17
SIMKOWITZ DANIEL A
President
$3.70M
@ $127.37 · 2025-05-12
HERZ ROBERT H
Director
$95,459
@ $119.32 · 2025-05-02
SAPERSTEIN ANDREW MICHAEL
President
$4.80M
@ $120.00 · 2025-05-02
GROSSMAN ERIC F
Officer
$1.12M
@ $111.65 · 2025-04-15
CRAWLEY MANDELL L.
Officer
$1.15M
@ $138.06 · 2025-01-22
GROSSMAN ERIC F
Officer
$1.78M
@ $136.20 · 2025-01-21
SIMKOWITZ DANIEL A
President
$5.00M
@ $136.61 · 2025-01-21
AKRAM RAJA
Chief Financial Officer
$2.38M
@ $136.01 · 2025-01-21
PIZZI MICHAEL A
Officer
$2.52M
@ $136.92 · 2025-01-21
SAPERSTEIN ANDREW MICHAEL
President
$4.20M
@ $136.43 · 2025-01-21
Direct ownership only · excludes indirect, option exercises, planned (10b5-1) sales & derivatives
REGN
4
Sells (3M)
14
Sells (12M)
Total value (12M): $8.65M
MCCOURT MARION E
Officer
$2.00M
@ $853.56 · 2026-09-03
GUARINI KATHRYN PH.D.
Director
$340,000
@ $850.00 · 2026-09-02
ZOGHBI HUDA Y
Director
$640,000
@ $800.00 · 2026-08-10
GUARINI KATHRYN PH.D.
Director
$320,000
@ $800.00 · 2026-08-10
RYAN ARTHUR F.
Director
$130,030
@ $650.15 · 2026-07-02
RYAN ARTHUR F.
Director
$70,524
@ $705.24 · 2026-05-01
RYAN ARTHUR F.
Director
$77,727
@ $777.27 · 2026-04-01
RYAN ARTHUR F.
Director
$78,550
@ $785.50 · 2026-03-02
ZOGHBI HUDA Y
Director
$1.28M
@ $781.33 · 2026-02-19
PITOFSKY JASON
Officer
$1.59M
@ $778.52 · 2026-02-09
RYAN ARTHUR F.
Director
$77,853
@ $778.53 · 2026-02-09
BASSLER BONNIE L
Director
$1.20M
@ $800.00 · 2026-01-07
BASSLER BONNIE L
Director
$570,000
@ $750.00 · 2025-11-20
PITOFSKY JASON
Officer
$280,766
@ $651.43 · 2025-11-07
POON CHRISTINE A
Director
$4.25M
@ $654.27 · 2025-10-29
Direct ownership only · excludes indirect, option exercises, planned (10b5-1) sales & derivatives

Direct ownership only · excludes indirect, option exercises, planned (10b5-1) sales & derivatives.

🎭 Mr. Market's Mood

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MS
FearGreed
😐Neutral(49/100)

"Market is pricing this stock without strong emotion in either direction"

Composite sentiment score based on 6 market signals. Inspired by Buffett's "Mr. Market" allegory — fear = potential opportunity, greed = potential risk. Must be used alongside fundamental analysis, not in isolation.
REGN
FearGreed
😏Greed(74/100)

"Market is optimistic — be cautious and ensure you have a margin of safety"

Composite sentiment score based on 6 market signals. Inspired by Buffett's "Mr. Market" allegory — fear = potential opportunity, greed = potential risk. Must be used alongside fundamental analysis, not in isolation.

Composite sentiment score based on market signals. Inspired by Buffett’s "Mr. Market" allegory — fear = potential opportunity, greed = potential risk. Must be used alongside fundamental analysis, not in isolation.

⚖️ Buffett Signal

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MS
⚪Awaiting DCF Data

The Buffett Signal cross-references market sentiment with DCF valuation. Configure the DCF Analysis above to generate a signal.

DCF Margin of Safety: N/AMr. Market's Mood: Neutral (49)
REGN
⚪Awaiting DCF Data

The Buffett Signal cross-references market sentiment with DCF valuation. Configure the DCF Analysis above to generate a signal.

DCF Margin of Safety: N/AMr. Market's Mood: Greed (74)
View MS Full AnalysisView REGN Full Analysis

Frequently Asked Questions: MS vs REGN

Is Morgan Stanley or Regeneron Pharmaceuticals, Inc. more undervalued in 2026?▼

Based on our discounted cash flow model, MS trades at a 41.3% margin of safety (intrinsic value $314 vs. price $184), compared to REGN's -27.0% margin of safety (intrinsic $730 vs. $928).

Which stock has a wider economic moat, Morgan Stanley or Regeneron Pharmaceuticals, Inc.?▼

REGN scores 80/100 (Wide moat), while MS scores 80/100 (Wide moat). The moat score measures competitive advantage durability across ROIC consistency, margin stability, revenue predictability, and reinvestment efficiency.

Is Morgan Stanley in financial distress?▼

MS's Altman Z-Score of 0.3 places it in the Distress zone, signaling elevated bankruptcy risk. REGN scores 7.6 (Safe zone). The Altman Z-Score is a five-factor model that predicts insolvency within two years; scores below 1.81 indicate significant distress.

Which stock has higher return on invested capital, Morgan Stanley or Regeneron Pharmaceuticals, Inc.?▼

REGN earns 14.9% ROIC versus MS's 3.5%. A higher ROIC means the company generates more profit per dollar of capital employed, a hallmark of durable competitive advantage in Buffett-style analysis.

Which dividend is safer, Morgan Stanley's or Regeneron Pharmaceuticals, Inc.'s?▼

REGN's dividend earns a safety score of 85/100 (Very Safe), compared to MS's 79/100 (Safe). REGN has raised its dividend for 0 consecutive years.