` Comparison: AIS vs LUN - Alpha Spread

AIS
vs
LUN

Over the past 12 months, AIS has underperformed LUN, delivering a return of +270% compared to the LUN's +271% growth.

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AIS
LUN
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Valuation Comparison

AIS Intrinsic Value
0.702 AUD
Undervaluation 21%
Intrinsic Value
Price
LUN Intrinsic Value
14.36 CAD
Overvaluation 67%
Intrinsic Value
Price
Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
Aeris Resources Ltd
ASX:AIS
0.555 AUD
Lundin Mining Corp
TSX:LUN
43.89 CAD
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Valuation Scenario:
Bear Case
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Bull Case

Growth Comparison

Growth Over Time
AIS, LUN

AIS
LUN
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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
Aeris Resources Ltd
Revenue
Lundin Mining Corp
Revenue

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

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Profitability Comparison

Free Cash Flow
AIS, LUN

AIS
LUN
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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
Aeris Resources Ltd
ASX:AIS
Lundin Mining Corp
TSX:LUN
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What is Free Cash Flow?

Gross Margin

AIS
20%
LUN
33.6%

Operating Margin

AIS
12.1%
LUN
29.9%

Net Margin

AIS
7.8%
LUN
2.3%

FCF Margin

AIS
5.7%
LUN
25.7%

ROE

AIS
15.3%
LUN
1.4%

ROA

AIS
7.7%
LUN
0.7%

ROIC

AIS
13.2%
LUN
5.6%

ROCE

AIS
14.7%
LUN
10.4%

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
AIS, LUN

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Performance Gap
AIS, LUN

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AIS
LUN
Difference
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Performance By Year
AIS, LUN

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AIS
LUN
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Intrinsic Value is all-important and is the only logical way to evaluate the relative attractiveness of investments and businesses.

Warren Buffett