` Comparison: AEFES.E, HEIO - Alpha Spread

AEFES.E
vs
HEIO

Over the past 12 months, AEFES.E has underperformed HEIO, delivering a return of -26% compared to the HEIO's +5% growth.

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AEFES.E
HEIO
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Valuation Comparison

AEFES.E 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
Anadolu Efes Biracilik ve Malt Sanayii AS
IST:AEFES.E
16.32 TRY
Heineken Holding NV
AEX:HEIO
61.9 EUR
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Valuation Scenario:
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Growth Comparison

Growth Over Time
AEFES.E, HEIO

AEFES.E
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
Anadolu Efes Biracilik ve Malt Sanayii AS
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
AEFES.E, HEIO

AEFES.E
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
Anadolu Efes Biracilik ve Malt Sanayii AS
IST:AEFES.E
Heineken Holding NV
AEX:HEIO
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What is Free Cash Flow?

Gross Margin

AEFES.E
37.9%
HEIO
35.1%

Operating Margin

AEFES.E
10.7%
HEIO
11.4%

Net Margin

AEFES.E
4.9%
HEIO
3.2%

FCF Margin

AEFES.E
3.2%
HEIO
9.2%

ROE

AEFES.E
12.7%
HEIO
10.3%

ROA

AEFES.E
3%
HEIO
1.8%

ROIC

AEFES.E
6.7%
HEIO
5.8%

ROCE

AEFES.E
9.5%
HEIO
8.8%

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
AEFES.E, HEIO

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Performance Gap
AEFES.E, HEIO

Performance Gap Between AEFES.E and HEIO
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Performance By Year
AEFES.E, HEIO

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AEFES.E
HEIO
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