WallStSmart

BitGo Holdings, Inc. (BTGO)vsMorgan Stanley (MS)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Morgan Stanley generates 531% more annual revenue ($70.30B vs $11.14B). BTGO leads profitability with a 148.0% profit margin vs 24.0%. BTGO trades at a lower P/E of 7.5x. MS earns a higher WallStSmart Score of 76/100 (B+).

BTGO

Hold

41

out of 100

Grade: D

Growth: 6.3Profit: 6.0Value: 6.3Quality: 5.0

MS

Strong Buy

76

out of 100

Grade: B+

Growth: 8.0Profit: 9.0Value: 10.0Quality: 4.8
Piotroski: 3/9
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

BTGOOvervalued (-8.3%)

Margin of Safety

-8.3%

Fair Value

$9.66

Current Price

$9.66

$0.00 premium

UndervaluedFair: $9.66Overvalued
MSUndervalued (+61.1%)

Margin of Safety

+61.1%

Fair Value

$415.17

Current Price

$161.47

$253.70 discount

UndervaluedFair: $415.17Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

BTGO4 strengths · Avg: 9.5/10
P/E RatioValuation
7.5x10/10

Attractively priced relative to earnings

Profit MarginProfitability
148.0%10/10

Keeps 148 of every $100 in revenue as profit

Revenue GrowthGrowth
611.0%10/10

Revenue surging 611.0% year-over-year

Price/BookValuation
2.9x8/10

Reasonable price relative to book value

MS6 strengths · Avg: 8.8/10
Market CapQuality
$256.39B10/10

Mega-cap, among the largest globally

Operating MarginProfitability
38.6%10/10

Strong operational efficiency at 38.6%

Profit MarginProfitability
24.0%9/10

Keeps 24 of every $100 in revenue as profit

P/E RatioValuation
15.5x8/10

Attractively priced relative to earnings

Price/BookValuation
2.5x8/10

Reasonable price relative to book value

EPS GrowthGrowth
20.7%8/10

Earnings expanding 20.7% YoY

Areas to Watch

BTGO3 concerns · Avg: 3.3/10
EPS GrowthGrowth
0.0%4/10

0.0% earnings growth

Market CapQuality
$1.24B3/10

Smaller company, higher risk/reward

Return on EquityProfitability
0.0%3/10

ROE of 0.0% — below average capital efficiency

MS3 concerns · Avg: 3.0/10
PEG RatioValuation
1.804/10

Expensive relative to growth rate

Piotroski F-ScoreQuality
3/93/10

Weak financial health signals

Free Cash FlowQuality
$-4.60B2/10

Negative free cash flow — burning cash

Comparative Analysis Report

WallStSmart Research

Bull Case : BTGO

The strongest argument for BTGO centers on P/E Ratio, Profit Margin, Revenue Growth. Profitability is solid with margins at 148.0% and operating margin at 11.0%. Revenue growth of 611.0% demonstrates continued momentum.

Bull Case : MS

The strongest argument for MS centers on Market Cap, Operating Margin, Profit Margin. Profitability is solid with margins at 24.0% and operating margin at 38.6%. Revenue growth of 11.0% demonstrates continued momentum.

Bear Case : BTGO

The primary concerns for BTGO are EPS Growth, Market Cap, Return on Equity.

Bear Case : MS

The primary concerns for MS are PEG Ratio, Piotroski F-Score, Free Cash Flow.

Key Dynamics to Monitor

BTGO profiles as a growth stock while MS is a mature play — different risk/reward profiles.

BTGO is growing revenue faster at 611.0% — sustainability is the question.

BTGO generates stronger free cash flow (9M), providing more financial flexibility.

Monitor CAPITAL MARKETS industry trends, competitive dynamics, and regulatory changes.

Bottom Line

MS scores higher overall (76/100 vs 41/100), backed by strong 24.0% margins and 11.0% revenue growth. Both earn "Strong Buy" and "Hold" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

BitGo Holdings, Inc.

FINANCIAL SERVICES · CAPITAL MARKETS · USA

Bitgo Holdings, Inc. is a digital asset infrastructure company that allows institutional clients to secure, manage, utilize, and create digital assets through its technology platform. The company is headquartered in Palo Alto, California.

Morgan Stanley

FINANCIAL SERVICES · CAPITAL MARKETS · USA

Morgan Stanley is an American multinational investment bank and financial services company headquartered at 1585 Broadway in the Morgan Stanley Building, Midtown Manhattan, New York City.

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