` Comparison: 004650 vs 600309 - Alpha Spread

C
004650
vs
600309

Over the past 12 months, Changhae Ethanol Co Ltd has underperformed Wanhua Chemical Group Co Ltd, delivering a return of +11% compared to the Wanhua Chemical Group Co Ltd's +31% growth.

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004650
600309
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Valuation Comparison

C
Intrinsic Value
13 738.54 KRW
Undervaluation 27%
Intrinsic Value
Price
Intrinsic Value
52.87 CNY
Overvaluation 41%
Intrinsic Value
Price
Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
C
Changhae Ethanol Co Ltd
KOSDAQ:004650
9 990 KRW
Wanhua Chemical Group Co Ltd
SSE:600309
90.36 CNY
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Growth Comparison

Growth Over Time
004650, 600309

004650
600309
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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
C
Changhae Ethanol Co Ltd
Revenue
Wanhua Chemical Group Co Ltd
Revenue

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

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Profitability Comparison

Free Cash Flow
004650, 600309

004650
600309
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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
C
Changhae Ethanol Co Ltd
KOSDAQ:004650
Wanhua Chemical Group Co Ltd
SSE:600309
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What is Free Cash Flow?

Gross Margin

Changhae Ethanol Co Ltd
21.6%
Wanhua Chemical Group Co Ltd
13.9%

Operating Margin

Changhae Ethanol Co Ltd
12%
Wanhua Chemical Group Co Ltd
9.2%

Net Margin

Changhae Ethanol Co Ltd
9.3%
Wanhua Chemical Group Co Ltd
6.2%

FCF Margin

Changhae Ethanol Co Ltd
9.4%
Wanhua Chemical Group Co Ltd
-1.2%

ROE

Changhae Ethanol Co Ltd
8.3%
Wanhua Chemical Group Co Ltd
11.2%

ROA

Changhae Ethanol Co Ltd
5.9%
Wanhua Chemical Group Co Ltd
3.5%

ROIC

Changhae Ethanol Co Ltd
6.5%
Wanhua Chemical Group Co Ltd
7%

ROCE

Changhae Ethanol Co Ltd
10.2%
Wanhua Chemical Group Co Ltd
9.2%

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
004650, 600309

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004650
600309
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Performance Gap
004650, 600309

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004650
600309
Difference
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Performance By Year
004650, 600309

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004650
600309
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Intrinsic Value is all-important and is the only logical way to evaluate the relative attractiveness of investments and businesses.

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