` Comparison: ICAP vs WPC - Alpha Spread

I
ICAP
vs
WPC

Over the past 12 months, ICAP has underperformed WPC, delivering a return of -6% compared to the WPC's +22% growth.

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ICAP
WPC
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Valuation Comparison

I
ICAP Intrinsic Value
1.65 MYR
Overvaluation 37%
Intrinsic Value
Price
WPC Intrinsic Value
70.777 USD
Overvaluation 4%
Intrinsic Value
Price
Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
I
IcapitalBiz Bhd
KLSE:ICAP
2.62 MYR
WP Carey Inc
NYSE:WPC
73.515 USD
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Valuation Scenario:
Bear Case
Base Case
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Growth Comparison

Growth Over Time
ICAP, WPC

ICAP
WPC
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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
I
IcapitalBiz Bhd
Revenue
WP Carey Inc
Revenue

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

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Profitability Comparison

Free Cash Flow
ICAP, WPC

ICAP
WPC
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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
I
IcapitalBiz Bhd
KLSE:ICAP
WP Carey Inc
NYSE:WPC
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What is Free Cash Flow?

Gross Margin

ICAP
0%
WPC
89.4%
LTM 3Y Avg 5Y Avg 10Y Avg
I
IcapitalBiz Bhd
WP Carey Inc

Operating Margin

ICAP
24.2%
WPC
50.8%
LTM 3Y Avg 5Y Avg 10Y Avg
I
IcapitalBiz Bhd
WP Carey Inc

Net Margin

ICAP
20.6%
WPC
27.2%
LTM 3Y Avg 5Y Avg 10Y Avg
I
IcapitalBiz Bhd
WP Carey Inc

FCF Margin

ICAP
111%
WPC
-33%
LTM 3Y Avg 5Y Avg 10Y Avg
I
IcapitalBiz Bhd
WP Carey Inc

ROE

ICAP
0.6%
WPC
5.6%
LTM 3Y Avg 5Y Avg 10Y Avg
I
IcapitalBiz Bhd
WP Carey Inc

ROA

ICAP
0.6%
WPC
2.6%
LTM 3Y Avg 5Y Avg 10Y Avg
I
IcapitalBiz Bhd
WP Carey Inc

ROIC

ICAP
0.7%
WPC
4.9%
LTM 3Y Avg 5Y Avg 10Y Avg
I
IcapitalBiz Bhd
WP Carey Inc

ROCE

ICAP
0.7%
WPC
5.2%
LTM 3Y Avg 5Y Avg 10Y Avg
I
IcapitalBiz Bhd
WP Carey Inc

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
ICAP, WPC

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Performance Gap
ICAP, WPC

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ICAP
WPC
Difference
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Performance By Year
ICAP, WPC

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ICAP
WPC
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