` Comparison: DLTA vs HEIO - Alpha Spread

DLTA
vs
HEIO

Over the past 12 months, DLTA has underperformed HEIO, delivering a return of -14% compared to the HEIO's +6% growth.

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DLTA
HEIO
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Valuation Comparison

DLTA Intrinsic Value
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HEIO Intrinsic Value
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Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
Delta Djakarta Tbk PT
IDX:DLTA
1 930 IDR
Heineken Holding NV
AEX:HEIO
62 EUR
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Valuation Scenario:
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Growth Comparison

Growth Over Time
DLTA, HEIO

DLTA
HEIO
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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
Delta Djakarta Tbk PT
Revenue
Heineken Holding NV
Revenue

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

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Profitability Comparison

Free Cash Flow
DLTA, HEIO

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HEIO
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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
Delta Djakarta Tbk PT
IDX:DLTA
Heineken Holding NV
AEX:HEIO
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What is Free Cash Flow?

Gross Margin

DLTA
67.4%
HEIO
35.1%

Operating Margin

DLTA
24.5%
HEIO
11.4%

Net Margin

DLTA
21.9%
HEIO
3.2%

FCF Margin

DLTA
26.2%
HEIO
9.2%

ROE

DLTA
17.9%
HEIO
10.3%

ROA

DLTA
13.1%
HEIO
1.8%

ROIC

DLTA
47.8%
HEIO
5.8%

ROCE

DLTA
18.6%
HEIO
8.8%

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
DLTA, HEIO

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Performance Gap
DLTA, HEIO

Performance Gap Between DLTA and HEIO
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Performance By Year
DLTA, HEIO

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DLTA
HEIO
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