` Comparison: TCAP vs GS - Alpha Spread

TCAP
vs
GS

Over the past 12 months, TCAP has underperformed GS, delivering a return of +23% compared to the GS's +82% growth.

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TCAP
GS
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Valuation Comparison

TCAP Intrinsic Value
433.11 GBX
Undervaluation 33%
Intrinsic Value
Price GBX290
GS Intrinsic Value
1 631.717 USD
Undervaluation 45%
Intrinsic Value
Price $902.305
Company Last Price Intrinsic Value DCF Value Multiples-Based Value Wall St Target
TP ICAP PLC
LSE:TCAP
290 GBX
Goldman Sachs Group Inc
NYSE:GS
902.305 USD
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Valuation Scenario:
Bear Case
Base Case
Bull Case

Growth Comparison

Growth Over Time
TCAP, GS

TCAP
GS
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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
TP ICAP PLC
Revenue
Goldman Sachs Group Inc
Revenue

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

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Profitability Comparison

Free Cash Flow
TCAP, GS

TCAP
GS
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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
TP ICAP PLC
LSE:TCAP
Goldman Sachs Group Inc
NYSE:GS
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What is Free Cash Flow?

Gross Margin

TCAP
0%
GS
40.2%

Operating Margin

TCAP
11.1%
GS
17.5%

Net Margin

TCAP
7.9%
GS
13%

FCF Margin

TCAP
5%
GS
-37.7%

ROE

TCAP
9.1%
GS
13.2%

ROA

TCAP
2.5%
GS
0.9%

ROIC

TCAP
24.5%
GS
1.3%

ROCE

TCAP
8.5%
GS
3.4%

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
TCAP, GS

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Performance Gap
TCAP, GS

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TCAP
GS
Difference
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Performance By Year
TCAP, GS

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TCAP
GS
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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