` Comparison: JUST vs SLM - Alpha Spread

J
JUST
vs
S
SLM

Over the past 12 months, JUST has outperformed SLM, delivering a return of +33% compared to the SLM's +22% growth.

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JUST
SLM
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Valuation Comparison

J
JUST Intrinsic Value
434.87 GBX
Undervaluation 50%
Intrinsic Value
Price
S
SLM Intrinsic Value
8 883.89 Zac
Overvaluation 14%
Intrinsic Value
Price
Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
J
Just Group PLC
LSE:JUST
217.5 GBX
S
Sanlam Ltd
JSE:SLM
10 385 Zac
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Valuation Scenario:
Bear Case
Base Case
Bull Case

Growth Comparison

Growth Over Time
JUST, SLM

JUST
SLM
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Revenue
www.alphaspread.com
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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
J
Just Group PLC
Revenue
S
Sanlam Ltd
Revenue

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

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Profitability Comparison

Free Cash Flow
JUST, SLM

JUST
SLM
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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
J
Just Group PLC
LSE:JUST
FCF is not applicable for financial companies
S
Sanlam Ltd
JSE:SLM
FCF is not applicable for financial companies
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What is Free Cash Flow?

Gross Margin

JUST
SLM
LTM 3Y Avg 5Y Avg 10Y Avg
J
Just Group PLC
Not applicable for financial companies
S
Sanlam Ltd
Not applicable for financial companies

Operating Margin

JUST
SLM
LTM 3Y Avg 5Y Avg 10Y Avg
J
Just Group PLC
Not applicable for financial companies
S
Sanlam Ltd
Not applicable for financial companies

Net Margin

JUST
3.4%
SLM
17%
LTM 3Y Avg 5Y Avg 10Y Avg
J
Just Group PLC
S
Sanlam Ltd

FCF Margin

JUST
SLM
LTM 3Y Avg 5Y Avg 10Y Avg
J
Just Group PLC
Not applicable for financial companies
S
Sanlam Ltd
Not applicable for financial companies

ROE

JUST
6.2%
SLM
23.7%
LTM 3Y Avg 5Y Avg 10Y Avg
J
Just Group PLC
S
Sanlam Ltd

ROA

JUST
0.2%
SLM
2%
LTM 3Y Avg 5Y Avg 10Y Avg
J
Just Group PLC
S
Sanlam Ltd

ROIC

JUST
SLM
LTM 3Y Avg 5Y Avg 10Y Avg
J
Just Group PLC
Not applicable for financial companies
S
Sanlam Ltd
Not applicable for financial companies

ROCE

JUST
SLM
LTM 3Y Avg 5Y Avg 10Y Avg
J
Just Group PLC
Not applicable for financial companies
S
Sanlam Ltd
Not applicable for financial companies

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
JUST, SLM

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Performance Gap
JUST, SLM

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JUST
SLM
Difference
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Performance By Year
JUST, SLM

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

Warren Buffett