` Comparison: IZ1, LUN - Alpha Spread

IZ1
vs
LUN

Over the past 12 months, IZ1 has underperformed LUN, delivering a return of +69% compared to the LUN's +127% growth.

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IZ1
LUN
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Valuation Comparison

IZ1 Intrinsic Value
36.04 EUR
Undervaluation 42%
Intrinsic Value
Price
LUN Intrinsic Value
18.62 CAD
Overvaluation 34%
Intrinsic Value
Price
Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
First Quantum Minerals Ltd
F:IZ1
21.05 EUR
Lundin Mining Corp
TSX:LUN
28.3 CAD
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Valuation Scenario:
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Growth Comparison

Growth Over Time
IZ1, LUN

IZ1
LUN
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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
First Quantum Minerals Ltd
Revenue
Lundin Mining Corp
Revenue

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

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Profitability Comparison

Free Cash Flow
IZ1, LUN

IZ1
LUN
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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
First Quantum Minerals Ltd
F:IZ1
Lundin Mining Corp
TSX:LUN
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What is Free Cash Flow?

Gross Margin

IZ1
28.8%
LUN
33.6%

Operating Margin

IZ1
21.2%
LUN
30%

Net Margin

IZ1
0.9%
LUN
2.3%

FCF Margin

IZ1
30.8%
LUN
25.8%

ROE

IZ1
0.4%
LUN
1.4%

ROA

IZ1
0.2%
LUN
0.7%

ROIC

IZ1
0.2%
LUN
5.6%

ROCE

IZ1
4.7%
LUN
10.4%

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
IZ1, LUN

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Performance Gap
IZ1, LUN

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IZ1
LUN
Difference
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Performance By Year
IZ1, LUN

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IZ1
LUN
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