` Comparison: SHM vs DOO - Alpha Spread

SHM
vs
DOO

Over the past 12 months, SHM has underperformed DOO, delivering a return of -31% compared to the DOO's +81% growth.

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SHM
DOO
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Valuation Comparison

SHM Intrinsic Value
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DOO Intrinsic Value
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Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
Shimano Inc
F:SHM
90.75 EUR
BRP Inc
TSX:DOO
100.01 CAD
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Valuation Scenario:
Bear Case
Base Case
Bull Case

Growth Comparison

Growth Over Time
SHM, DOO

SHM
DOO
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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
Shimano Inc
Revenue
BRP Inc
Revenue

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

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Profitability Comparison

Free Cash Flow
SHM, DOO

SHM
DOO
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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
Shimano Inc
F:SHM
BRP Inc
TSX:DOO
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What is Free Cash Flow?

Gross Margin

SHM
35.7%
DOO
21.8%
LTM 3Y Avg 5Y Avg 10Y Avg
Shimano Inc
BRP Inc

Operating Margin

SHM
11.1%
DOO
6.9%
LTM 3Y Avg 5Y Avg 10Y Avg
Shimano Inc
BRP Inc

Net Margin

SHM
7.3%
DOO
0.3%
LTM 3Y Avg 5Y Avg 10Y Avg
Shimano Inc
BRP Inc

FCF Margin

SHM
3.9%
DOO
9.2%
LTM 3Y Avg 5Y Avg 10Y Avg
Shimano Inc
BRP Inc

ROE

SHM
3.9%
DOO
4.4%
LTM 3Y Avg 5Y Avg 10Y Avg
Shimano Inc
BRP Inc

ROA

SHM
3.6%
DOO
0.4%
LTM 3Y Avg 5Y Avg 10Y Avg
Shimano Inc
BRP Inc

ROIC

SHM
7.3%
DOO
10.4%
LTM 3Y Avg 5Y Avg 10Y Avg
Shimano Inc
BRP Inc

ROCE

SHM
5.8%
DOO
14.1%
LTM 3Y Avg 5Y Avg 10Y Avg
Shimano Inc
BRP Inc

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
SHM, DOO

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Performance Gap
SHM, DOO

Performance Gap Between SHM and DOO
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Performance By Year
SHM, DOO

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SHM
DOO
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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