` Comparison: RAIL3, UNP - Alpha Spread

RAIL3
vs
UNP

Over the past 12 months, RAIL3 has underperformed UNP, delivering a return of -21% compared to the UNP's +3% growth.

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RAIL3
UNP
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Valuation Comparison

RAIL3 Intrinsic Value
20.31 BRL
Undervaluation 28%
Intrinsic Value
Price
UNP Intrinsic Value
218.994 USD
Overvaluation 6%
Intrinsic Value
Price
Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
Rumo SA
BOVESPA:RAIL3
14.65 BRL
Union Pacific Corp
NYSE:UNP
232.375 USD
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Valuation Scenario:
Bear Case
Base Case
Bull Case

Growth Comparison

Growth Over Time
RAIL3, UNP

RAIL3
UNP
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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
Rumo SA
Revenue
Union Pacific Corp
Revenue

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

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Profitability Comparison

Free Cash Flow
RAIL3, UNP

RAIL3
UNP
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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
Rumo SA
BOVESPA:RAIL3
Union Pacific Corp
NYSE:UNP
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What is Free Cash Flow?

Gross Margin

RAIL3
45.8%
UNP
79.8%
LTM 3Y Avg 5Y Avg 10Y Avg
Rumo SA
Union Pacific Corp

Operating Margin

RAIL3
39.8%
UNP
40.6%
LTM 3Y Avg 5Y Avg 10Y Avg
Rumo SA
Union Pacific Corp

Net Margin

RAIL3
2.7%
UNP
28.7%
LTM 3Y Avg 5Y Avg 10Y Avg
Rumo SA
Union Pacific Corp

FCF Margin

RAIL3
3.9%
UNP
24.5%
LTM 3Y Avg 5Y Avg 10Y Avg
Rumo SA
Union Pacific Corp

ROE

RAIL3
2.6%
UNP
41.6%
LTM 3Y Avg 5Y Avg 10Y Avg
Rumo SA
Union Pacific Corp

ROA

RAIL3
0.7%
UNP
10.4%
LTM 3Y Avg 5Y Avg 10Y Avg
Rumo SA
Union Pacific Corp

ROIC

RAIL3
4.6%
UNP
11.7%
LTM 3Y Avg 5Y Avg 10Y Avg
Rumo SA
Union Pacific Corp

ROCE

RAIL3
12.4%
UNP
15.9%
LTM 3Y Avg 5Y Avg 10Y Avg
Rumo SA
Union Pacific Corp

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
RAIL3, UNP

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Performance Gap
RAIL3, UNP

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RAIL3
UNP
Difference
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Performance By Year
RAIL3, UNP

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RAIL3
UNP
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