` Comparison: 1HN vs SBK - Alpha Spread

B
1HN
vs
S
SBK

Over the past 12 months, 1HN has underperformed SBK, delivering a return of +43% compared to the SBK's +46% growth.

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1HN
SBK
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Valuation Comparison

B
1HN Intrinsic Value
4.985 EUR
Undervaluation 14%
Intrinsic Value
Price €4.282
S
SBK Intrinsic Value
31 784.3 Zac
Overvaluation 2%
Intrinsic Value
Price Zac32 502
Company Last Price Intrinsic Value DCF Value Multiples-Based Value Wall St Target
B
Bank Millennium SA
F:1HN
4.282 EUR
S
Standard Bank Group Ltd
JSE:SBK
32 502 Zac
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Valuation Scenario:
Bear Case
Base Case
Bull Case

Growth Comparison

Growth Over Time
1HN, SBK

1HN
SBK
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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
Bank Millennium SA
Revenue
S
Standard Bank Group Ltd
Revenue

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

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Profitability Comparison

Free Cash Flow
1HN, SBK

1HN
SBK
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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
Bank Millennium SA
F:1HN
FCF is not applicable for financial companies
S
Standard Bank Group Ltd
JSE:SBK
FCF is not applicable for financial companies
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What is Free Cash Flow?

Gross Margin

1HN
SBK
LTM 3Y Avg 5Y Avg 10Y Avg
B
Bank Millennium SA
Not applicable for financial companies
S
Standard Bank Group Ltd
Not applicable for financial companies

Operating Margin

1HN
SBK
LTM 3Y Avg 5Y Avg 10Y Avg
B
Bank Millennium SA
Not applicable for financial companies
S
Standard Bank Group Ltd
Not applicable for financial companies

Net Margin

1HN
15.9%
SBK
16.9%

FCF Margin

1HN
SBK
LTM 3Y Avg 5Y Avg 10Y Avg
B
Bank Millennium SA
Not applicable for financial companies
S
Standard Bank Group Ltd
Not applicable for financial companies

ROE

1HN
14.2%
SBK
17.3%

ROA

1HN
0.8%
SBK
1.4%

ROIC

1HN
SBK
LTM 3Y Avg 5Y Avg 10Y Avg
B
Bank Millennium SA
Not applicable for financial companies
S
Standard Bank Group Ltd
Not applicable for financial companies

ROCE

1HN
SBK
LTM 3Y Avg 5Y Avg 10Y Avg
B
Bank Millennium SA
Not applicable for financial companies
S
Standard Bank Group Ltd
Not applicable for financial companies

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
1HN, SBK

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Performance Gap
1HN, SBK

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1HN
SBK
Difference
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Performance By Year
1HN, SBK

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1HN
SBK
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Compare 1HN to other stocks
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vs 1HN
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C
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vs 1HN
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vs 1HN
BAC
Bank of America Corp
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vs 1HN
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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