` Comparison: 0AI4, HEIO - Alpha Spread

0AI4
vs
HEIO

Over the past 12 months, 0AI4 has outperformed HEIO, delivering a return of +12% compared to the HEIO's +2% growth.

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0AI4
HEIO
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Stocks Compared:
0AI4 HEIO
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Valuation Comparison

0AI4 Intrinsic Value
1 385.49 DKK
Undervaluation 41%
Intrinsic Value
Price
HEIO Intrinsic Value
116.16 EUR
Undervaluation 48%
Intrinsic Value
Price
Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
Carlsberg A/S
LSE:0AI4
817.7 DKK
Heineken Holding NV
AEX:HEIO
60.65 EUR
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Valuation Scenario:
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Growth Comparison

Growth Over Time
0AI4, HEIO

0AI4
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
Carlsberg A/S
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
0AI4, HEIO

0AI4
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
Carlsberg A/S
LSE:0AI4
Heineken Holding NV
AEX:HEIO
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What is Free Cash Flow?

Gross Margin

0AI4
45.7%
HEIO
35.1%
LTM 3Y Avg 5Y Avg 10Y Avg
Carlsberg A/S
Heineken Holding NV

Operating Margin

0AI4
14.1%
HEIO
11.4%
LTM 3Y Avg 5Y Avg 10Y Avg
Carlsberg A/S
Heineken Holding NV

Net Margin

0AI4
10.9%
HEIO
3.2%
LTM 3Y Avg 5Y Avg 10Y Avg
Carlsberg A/S
Heineken Holding NV

FCF Margin

0AI4
6.4%
HEIO
9.2%
LTM 3Y Avg 5Y Avg 10Y Avg
Carlsberg A/S
Heineken Holding NV

ROE

0AI4
37.2%
HEIO
10.3%
LTM 3Y Avg 5Y Avg 10Y Avg
Carlsberg A/S
Heineken Holding NV

ROA

0AI4
6.6%
HEIO
1.8%
LTM 3Y Avg 5Y Avg 10Y Avg
Carlsberg A/S
Heineken Holding NV

ROIC

0AI4
9.5%
HEIO
5.8%
LTM 3Y Avg 5Y Avg 10Y Avg
Carlsberg A/S
Heineken Holding NV

ROCE

0AI4
13.6%
HEIO
8.8%
LTM 3Y Avg 5Y Avg 10Y Avg
Carlsberg A/S
Heineken Holding NV

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
0AI4, HEIO

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0AI4
HEIO
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Performance Gap
0AI4, HEIO

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0AI4
HEIO
Difference
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1Y 3Y 5Y 10Y 15Y 20Y

Performance By Year
0AI4, HEIO

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HEIO
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