` Comparison: ALTR vs UPM - Alpha Spread

A
ALTR
vs
UPM

Over the past 12 months, ALTR has underperformed UPM, delivering a return of -21% compared to the UPM's 4% drop.

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ALTR
UPM
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Valuation Comparison

A
ALTR Intrinsic Value
4.909 EUR
Undervaluation 2%
Intrinsic Value
Price
UPM Intrinsic Value
29.44 EUR
Undervaluation 8%
Intrinsic Value
Price
Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
A
Altri SGPS SA
ELI:ALTR
4.835 EUR
UPM-Kymmene Oyj
OMXH:UPM
27.15 EUR
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Valuation Scenario:
Bear Case
Base Case
Bull Case

Growth Comparison

Growth Over Time
ALTR, UPM

ALTR
UPM
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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
A
Altri SGPS SA
Revenue
UPM-Kymmene Oyj
Revenue

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

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Profitability Comparison

Free Cash Flow
ALTR, UPM

ALTR
UPM
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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
A
Altri SGPS SA
ELI:ALTR
UPM-Kymmene Oyj
OMXH:UPM
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What is Free Cash Flow?

Gross Margin

ALTR
22.4%
UPM
10.6%
LTM 3Y Avg 5Y Avg 10Y Avg
A
Altri SGPS SA
UPM-Kymmene Oyj

Operating Margin

ALTR
6.8%
UPM
6.7%
LTM 3Y Avg 5Y Avg 10Y Avg
A
Altri SGPS SA
UPM-Kymmene Oyj

Net Margin

ALTR
4.1%
UPM
5%
LTM 3Y Avg 5Y Avg 10Y Avg
A
Altri SGPS SA
UPM-Kymmene Oyj

FCF Margin

ALTR
2.2%
UPM
10.1%
LTM 3Y Avg 5Y Avg 10Y Avg
A
Altri SGPS SA
UPM-Kymmene Oyj

ROE

ALTR
7%
UPM
4.5%
LTM 3Y Avg 5Y Avg 10Y Avg
A
Altri SGPS SA
UPM-Kymmene Oyj

ROA

ALTR
2.4%
UPM
2.6%
LTM 3Y Avg 5Y Avg 10Y Avg
A
Altri SGPS SA
UPM-Kymmene Oyj

ROIC

ALTR
4.3%
UPM
2.9%
LTM 3Y Avg 5Y Avg 10Y Avg
A
Altri SGPS SA
UPM-Kymmene Oyj

ROCE

ALTR
5.3%
UPM
4%
LTM 3Y Avg 5Y Avg 10Y Avg
A
Altri SGPS SA
UPM-Kymmene Oyj

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
ALTR, UPM

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Performance Gap
ALTR, UPM

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ALTR
UPM
Difference
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Performance By Year
ALTR, UPM

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ALTR
UPM
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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