` Comparison: RELI vs MS - Alpha Spread

RELI
vs
MS

Over the past 12 months, RELI has underperformed MS, delivering a return of -2% compared to the MS's +21% growth.

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RELI
MS
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Valuation Comparison

RELI Intrinsic Value
256.88 IDR
Overvaluation 49%
Intrinsic Value
Price
MS Intrinsic Value
317.86 USD
Undervaluation 46%
Intrinsic Value
Price
Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
Reliance Sekuritas Indonesia Tbk PT
IDX:RELI
500 IDR
Morgan Stanley
NYSE:MS
170.08 USD
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Valuation Scenario:
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Growth Comparison

Growth Over Time
RELI, MS

RELI
MS
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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
Reliance Sekuritas Indonesia Tbk PT
Revenue
Morgan Stanley
Revenue

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

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Profitability Comparison

Free Cash Flow
RELI, MS

RELI
MS
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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
Reliance Sekuritas Indonesia Tbk PT
IDX:RELI
Morgan Stanley
NYSE:MS
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What is Free Cash Flow?

Gross Margin

RELI
0%
MS
55.1%

Operating Margin

RELI
20.9%
MS
18.3%

Net Margin

RELI
9.7%
MS
13.6%

FCF Margin

RELI
-218.2%
MS
-5.6%

ROE

RELI
0.6%
MS
15.2%

ROA

RELI
0.5%
MS
1.3%

ROIC

RELI
2.9%
MS
1.7%

ROCE

RELI
1.3%
MS
3.6%

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
RELI, MS

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Performance Gap
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RELI
MS
Difference
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Performance By Year
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MS
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