` Comparison: VY4 vs ROG - Alpha Spread

VY4
vs
ROG

Over the past 12 months, VY4 has underperformed ROG, delivering a return of -15% compared to the ROG's +5% growth.

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VY4
ROG
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Valuation Comparison

VY4 Intrinsic Value
0.942 EUR
Overvaluation 23%
Intrinsic Value
Price
ROG Intrinsic Value
416.39 CHF
Undervaluation 23%
Intrinsic Value
Price
Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
SNDL Inc
F:VY4
1.231 EUR
Roche Holding AG
SIX:ROG
322.3 CHF
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Valuation Scenario:
Bear Case
Base Case
Bull Case

Growth Comparison

Growth Over Time
VY4, ROG

VY4
ROG
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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
SNDL Inc
Revenue
Roche Holding AG
Revenue

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

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Profitability Comparison

Free Cash Flow
VY4, ROG

VY4
ROG
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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
SNDL Inc
F:VY4
Roche Holding AG
SIX:ROG
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What is Free Cash Flow?

Gross Margin

VY4
27%
ROG
73.9%
LTM 3Y Avg 5Y Avg 10Y Avg
SNDL Inc
Roche Holding AG

Operating Margin

VY4
-1.2%
ROG
35%
LTM 3Y Avg 5Y Avg 10Y Avg
SNDL Inc
Roche Holding AG

Net Margin

VY4
-9.7%
ROG
20.9%
LTM 3Y Avg 5Y Avg 10Y Avg
SNDL Inc
Roche Holding AG

FCF Margin

VY4
6.1%
ROG
17.7%
LTM 3Y Avg 5Y Avg 10Y Avg
SNDL Inc
Roche Holding AG

ROE

VY4
-8%
ROG
39.3%
LTM 3Y Avg 5Y Avg 10Y Avg
SNDL Inc
Roche Holding AG

ROA

VY4
-6.7%
ROG
12.7%
LTM 3Y Avg 5Y Avg 10Y Avg
SNDL Inc
Roche Holding AG

ROIC

VY4
-1%
ROG
19.4%
LTM 3Y Avg 5Y Avg 10Y Avg
SNDL Inc
Roche Holding AG

ROCE

VY4
-0.9%
ROG
29.2%
LTM 3Y Avg 5Y Avg 10Y Avg
SNDL Inc
Roche Holding AG

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
VY4, ROG

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Performance Gap
VY4, ROG

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VY4
ROG
Difference
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Performance By Year
VY4, ROG

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VY4
ROG
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Compare VY4 to other stocks
LLY
Eli Lilly and Co
More expensive
vs VY4
JNJ
Johnson & Johnson
More expensive
vs VY4
NOVN
Novartis AG
Cheaper
vs VY4
AZN
AstraZeneca PLC
More expensive
vs VY4
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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