` Comparison: BMIN3 vs IBKR - Alpha Spread

B
BMIN3
vs
IBKR

Over the past 12 months, BMIN3 has underperformed IBKR, delivering a return of +23% compared to the IBKR's +53% growth.

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BMIN3
IBKR
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Valuation Comparison

B
BMIN3 Intrinsic Value
16.64 BRL
Overvaluation 24%
Intrinsic Value
Price
IBKR Intrinsic Value
52.202 USD
Overvaluation 22%
Intrinsic Value
Price
Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
B
Banco Mercantil de Investimentos SA
BOVESPA:BMIN3
22 BRL
Interactive Brokers Group Inc
NASDAQ:IBKR
67.195 USD
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Valuation Scenario:
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Base Case
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Growth Comparison

Growth Over Time
BMIN3, IBKR

BMIN3
IBKR
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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
B
Banco Mercantil de Investimentos SA
Revenue
Interactive Brokers Group Inc
Revenue

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

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Profitability Comparison

Free Cash Flow
BMIN3, IBKR

BMIN3
IBKR
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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
B
Banco Mercantil de Investimentos SA
BOVESPA:BMIN3
FCF is not applicable for financial companies
Interactive Brokers Group Inc
NASDAQ:IBKR
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What is Free Cash Flow?

Gross Margin

BMIN3
IBKR
55.5%
LTM 3Y Avg 5Y Avg 10Y Avg
B
Banco Mercantil de Investimentos SA
Not applicable for financial companies
Interactive Brokers Group Inc

Operating Margin

BMIN3
IBKR
45.8%
LTM 3Y Avg 5Y Avg 10Y Avg
B
Banco Mercantil de Investimentos SA
Not applicable for financial companies
Interactive Brokers Group Inc

Net Margin

BMIN3
29.2%
IBKR
9.4%

FCF Margin

BMIN3
IBKR
151%
LTM 3Y Avg 5Y Avg 10Y Avg
B
Banco Mercantil de Investimentos SA
Not applicable for financial companies
Interactive Brokers Group Inc

ROE

BMIN3
7.4%
IBKR
20.4%

ROA

BMIN3
1.9%
IBKR
0.6%

ROIC

BMIN3
IBKR
12%
LTM 3Y Avg 5Y Avg 10Y Avg
B
Banco Mercantil de Investimentos SA
Not applicable for financial companies
Interactive Brokers Group Inc

ROCE

BMIN3
IBKR
25%
LTM 3Y Avg 5Y Avg 10Y Avg
B
Banco Mercantil de Investimentos SA
Not applicable for financial companies
Interactive Brokers Group Inc

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
BMIN3, IBKR

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Performance Gap
BMIN3, IBKR

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BMIN3
IBKR
Difference
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Performance By Year
BMIN3, IBKR

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BMIN3
IBKR
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Compare BMIN3 to other stocks
MS
Morgan Stanley
Cheaper
vs BMIN3
GS
Goldman Sachs Group Inc
Cheaper
vs BMIN3
EFGD
EFG Hermes Holdings SAE
More expensive
vs BMIN3
SCHW
Charles Schwab Corp
Cheaper
vs BMIN3
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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