` Comparison: OCI, NTR - Alpha Spread

OCI
vs
NTR

Over the past 12 months, OCI has underperformed NTR, delivering a return of -20% compared to the NTR's +32% growth.

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OCI
NTR
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Valuation Comparison

OCI Intrinsic Value
2.064 EUR
Overvaluation 31%
Intrinsic Value
Price
NTR Intrinsic Value
94.55 CAD
Undervaluation 10%
Intrinsic Value
Price
Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
OCI NV
AEX:OCI
2.978 EUR
Nutrien Ltd
TSX:NTR
84.94 CAD
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Valuation Scenario:
Bear Case
Base Case
Bull Case

Growth Comparison

Growth Over Time
OCI, NTR

OCI
NTR
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Revenue
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Company LTM Historical Growth Growth Streak % Positive Years Max Drawdown Volatility Forecasted Growth
3 Years 5 Years 10 Years 1 Year 3 Years
OCI NV
Revenue
Nutrien Ltd
Revenue

All metrics are calculated based on data from the last 10 years.

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Profitability Comparison

Free Cash Flow
OCI, NTR

OCI
NTR
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Free Cash Flow
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Company LTM Average Historical Growth FCF Margin Conversion
3 Years 5 Years 3 Years 5 Years 10 Years
OCI NV
AEX:OCI
Nutrien Ltd
TSX:NTR
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What is Free Cash Flow?

Gross Margin

OCI
-5.7%
NTR
30.2%
LTM 3Y Avg 5Y Avg 10Y Avg
OCI NV
Nutrien Ltd

Operating Margin

OCI
-50.2%
NTR
12.6%
LTM 3Y Avg 5Y Avg 10Y Avg
OCI NV
Nutrien Ltd

Net Margin

OCI
937%
NTR
6.8%
LTM 3Y Avg 5Y Avg 10Y Avg
OCI NV
Nutrien Ltd

FCF Margin

OCI
-46.6%
NTR
8.2%
LTM 3Y Avg 5Y Avg 10Y Avg
OCI NV
Nutrien Ltd

ROE

OCI
381.6%
NTR
7.2%
LTM 3Y Avg 5Y Avg 10Y Avg
OCI NV
Nutrien Ltd

ROA

OCI
84.9%
NTR
3.5%
LTM 3Y Avg 5Y Avg 10Y Avg
OCI NV
Nutrien Ltd

ROIC

OCI
-5%
NTR
5.5%
LTM 3Y Avg 5Y Avg 10Y Avg
OCI NV
Nutrien Ltd

ROCE

OCI
-9.6%
NTR
8.2%
LTM 3Y Avg 5Y Avg 10Y Avg
OCI NV
Nutrien Ltd

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
OCI, NTR

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Performance Gap
OCI, NTR

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OCI
NTR
Difference
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Performance By Year
OCI, NTR

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OCI
NTR
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