` Comparison: INCO vs BHP - Alpha Spread

INCO
vs
BHP

Over the past 12 months, INCO has significantly outperformed BHP, delivering a return of +144% compared to the BHP's +47% growth.

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INCO
BHP
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Valuation Comparison

INCO Intrinsic Value
4 497.82 IDR
Overvaluation 38%
Intrinsic Value
Price
BHP Intrinsic Value
41.555 AUD
Overvaluation 28%
Intrinsic Value
Price
Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
Vale Indonesia Tbk PT
IDX:INCO
7 225 IDR
BHP Group Ltd
ASX:BHP
57.825 AUD
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Valuation Scenario:
Bear Case
Base Case
Bull Case

Growth Comparison

Growth Over Time
INCO, BHP

INCO
BHP
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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
Vale Indonesia Tbk PT
Revenue
BHP Group Ltd
Revenue

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

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Profitability Comparison

Free Cash Flow
INCO, BHP

INCO
BHP
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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
Vale Indonesia Tbk PT
IDX:INCO
BHP Group Ltd
ASX:BHP
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What is Free Cash Flow?

Gross Margin

INCO
10.7%
BHP
0%

Operating Margin

INCO
6%
BHP
41.3%

Net Margin

INCO
6.2%
BHP
19%

FCF Margin

INCO
-24%
BHP
18.3%

ROE

INCO
2.2%
BHP
21.4%

ROA

INCO
1.9%
BHP
9.5%

ROIC

INCO
1.7%
BHP
15.1%

ROCE

INCO
1.9%
BHP
23.7%

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
INCO, BHP

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Performance Gap
INCO, BHP

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INCO
BHP
Difference
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Performance By Year
INCO, BHP

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INCO
BHP
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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