` Comparison: PTM vs BLK - Alpha Spread

PTM
vs
BLK

Over the past 12 months, PTM has outperformed BLK, delivering a return of +22% compared to the BLK's +11% growth.

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PTM
BLK
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Valuation Comparison

PTM Intrinsic Value
4.501 AUD
Undervaluation 85%
Intrinsic Value
Price
BLK Intrinsic Value
861.92 USD
Overvaluation 19%
Intrinsic Value
Price
Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
Platinum Asset Management Ltd
ASX:PTM
0.695 AUD
BlackRock Inc
NYSE:BLK
1 065.4 USD
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Valuation Scenario:
Bear Case
Base Case
Bull Case

Growth Comparison

Growth Over Time
PTM, BLK

PTM
BLK
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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
Platinum Asset Management Ltd
Revenue
BlackRock Inc
Revenue

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

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Profitability Comparison

Free Cash Flow
PTM, BLK

PTM
BLK
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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
Platinum Asset Management Ltd
ASX:PTM
BlackRock Inc
NYSE:BLK
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What is Free Cash Flow?

Gross Margin

PTM
0%
BLK
81.6%

Operating Margin

PTM
17.3%
BLK
29.8%

Net Margin

PTM
4.6%
BLK
22.9%

FCF Margin

PTM
36.8%
BLK
16.2%

ROE

PTM
2.4%
BLK
10.8%

ROA

PTM
2.1%
BLK
3.7%

ROIC

PTM
5.1%
BLK
4.1%

ROCE

PTM
8.5%
BLK
5%

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
PTM, BLK

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Performance Gap
PTM, BLK

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PTM
BLK
Difference
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Performance By Year
PTM, BLK

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PTM
BLK
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NY1
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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