` Comparison: SHM1 vs GOLF - Alpha Spread

SHM1
vs
GOLF

Over the past 12 months, SHM1 has underperformed GOLF, delivering a return of -25% compared to the GOLF's +58% growth.

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SHM1
GOLF
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Valuation Comparison

SHM1 Intrinsic Value
7.76 EUR
Overvaluation 12%
Intrinsic Value
Price €8.8
GOLF Intrinsic Value
67.65 USD
Overvaluation 31%
Intrinsic Value
Price $97.79
Company Last Price Intrinsic Value DCF Value Multiples-Based Value Wall St Target
Shimano Inc
F:SHM1
8.8 EUR
Acushnet Holdings Corp
NYSE:GOLF
97.79 USD
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Valuation Scenario:
Bear Case
Base Case
Bull Case

Growth Comparison

Growth Over Time
SHM1, GOLF

SHM1
GOLF
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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
Acushnet Holdings Corp
Revenue

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

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Profitability Comparison

Free Cash Flow
SHM1, GOLF

SHM1
GOLF
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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:SHM1
Acushnet Holdings Corp
NYSE:GOLF
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What is Free Cash Flow?

Gross Margin

SHM1
35.7%
GOLF
47.7%
LTM 3Y Avg 5Y Avg 10Y Avg
Shimano Inc
Acushnet Holdings Corp

Operating Margin

SHM1
11.1%
GOLF
11.9%
LTM 3Y Avg 5Y Avg 10Y Avg
Shimano Inc
Acushnet Holdings Corp

Net Margin

SHM1
7.3%
GOLF
7.4%
LTM 3Y Avg 5Y Avg 10Y Avg
Shimano Inc
Acushnet Holdings Corp

FCF Margin

SHM1
3.9%
GOLF
4.7%
LTM 3Y Avg 5Y Avg 10Y Avg
Shimano Inc
Acushnet Holdings Corp

ROE

SHM1
3.9%
GOLF
24.3%
LTM 3Y Avg 5Y Avg 10Y Avg
Shimano Inc
Acushnet Holdings Corp

ROA

SHM1
3.6%
GOLF
8.3%
LTM 3Y Avg 5Y Avg 10Y Avg
Shimano Inc
Acushnet Holdings Corp

ROIC

SHM1
7.3%
GOLF
11.6%
LTM 3Y Avg 5Y Avg 10Y Avg
Shimano Inc
Acushnet Holdings Corp

ROCE

SHM1
5.8%
GOLF
16.9%
LTM 3Y Avg 5Y Avg 10Y Avg
Shimano Inc
Acushnet Holdings Corp

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
SHM1, GOLF

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Performance Gap
SHM1, GOLF

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SHM1
GOLF
Difference
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Performance By Year
SHM1, GOLF

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SHM1
GOLF
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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