` Comparison: FP3 vs NG - Alpha Spread

FP3
vs
NG

Over the past 12 months, FP3 has underperformed NG, delivering a return of +7% compared to the NG's +29% growth.

Valuation Growth Profitability Solvency Stocks Performance
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FP3
NG
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Stocks Compared:
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Valuation Comparison

FP3 Intrinsic Value
87.45 EUR
Undervaluation 18%
Intrinsic Value
Price
NG Intrinsic Value
587.66 GBX
Overvaluation 52%
Intrinsic Value
Price
Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
Nextera Energy Inc
F:FP3
71.9 EUR
National Grid PLC
LSE:NG
1 217.5 GBX
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Valuation Scenario:
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Growth Comparison

Growth Over Time
FP3, NG

FP3
NG
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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
Nextera Energy Inc
Revenue
National Grid PLC
Revenue

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

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Profitability Comparison

Free Cash Flow
FP3, NG

FP3
NG
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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
Nextera Energy Inc
F:FP3
National Grid PLC
LSE:NG
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What is Free Cash Flow?

Gross Margin

FP3
0%
NG
0%

Operating Margin

FP3
28.2%
NG
29.6%

Net Margin

FP3
24.7%
NG
16.4%

FCF Margin

FP3
11.7%
NG
-10.8%

ROE

FP3
12.5%
NG
7.9%

ROA

FP3
3.3%
NG
2.8%

ROIC

FP3
4.7%
NG
4.2%

ROCE

FP3
4.4%
NG
5.5%

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
FP3, NG

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Performance Gap
FP3, NG

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FP3
NG
Difference
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1Y 3Y 5Y 10Y 15Y 20Y

Performance By Year
FP3, NG

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NG
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