` Comparison: PK3 vs CNR - Alpha Spread

P
PK3
vs
CNR

Over the past 12 months, PK3 has underperformed CNR, delivering a return of -30% compared to the CNR's +7% growth.

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PK3
CNR
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Valuation Comparison

PK3 Intrinsic Value
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CNR Intrinsic Value
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Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
P
PKP Cargo SA
F:PK3
3.004 EUR
Canadian National Railway Co
TSX:CNR
153.08 CAD
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Valuation Scenario:
Bear Case
Base Case
Bull Case

Growth Comparison

Growth Over Time
PK3, CNR

PK3
CNR
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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
P
PKP Cargo SA
Revenue
Canadian National Railway Co
Revenue

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

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Profitability Comparison

Free Cash Flow
PK3, CNR

PK3
CNR
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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
P
PKP Cargo SA
F:PK3
Canadian National Railway Co
TSX:CNR
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What is Free Cash Flow?

Gross Margin

PK3
61.6%
CNR
76.4%

Operating Margin

PK3
0.7%
CNR
38.1%

Net Margin

PK3
-42.2%
CNR
27.3%

FCF Margin

PK3
2.1%
CNR
19.6%

ROE

PK3
-105.9%
CNR
22.2%

ROA

PK3
-22.4%
CNR
8.2%

ROIC

PK3
0.4%
CNR
9%

ROCE

PK3
0.7%
CNR
12.2%

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
PK3, CNR

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Performance Gap
PK3, CNR

Performance Gap Between PK3 and CNR
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Performance By Year
PK3, CNR

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PK3
CNR
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Compare PK3 to other stocks
UNP
Union Pacific Corp
More expensive
vs PK3
CP
Canadian Pacific Railway...
More expensive
vs PK3
CSX
CSX Corp
More expensive
vs PK3
NSC
Norfolk Southern Corp
More expensive
vs PK3
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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