` Comparison: TTST vs VALE3 - Alpha Spread

TTST
vs
VALE3

Over the past 12 months, TTST has underperformed VALE3, delivering a return of +9% compared to the VALE3's +50% growth.

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TTST
VALE3
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Valuation Comparison

TTST Intrinsic Value
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VALE3 Intrinsic Value
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Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
Tata Steel Ltd
LSE:TTST
21.4 USD
Vale SA
BOVESPA:VALE3
81.05 BRL
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Valuation Scenario:
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Base Case
Bull Case

Growth Comparison

Growth Over Time
TTST, VALE3

TTST
VALE3
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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
Tata Steel Ltd
Revenue
Vale SA
Revenue

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

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Profitability Comparison

Free Cash Flow
TTST, VALE3

TTST
VALE3
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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
Tata Steel Ltd
LSE:TTST
Vale SA
BOVESPA:VALE3
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What is Free Cash Flow?

Gross Margin

TTST
59.1%
VALE3
35%
LTM 3Y Avg 5Y Avg 10Y Avg
Tata Steel Ltd
Vale SA

Operating Margin

TTST
8.7%
VALE3
28.4%
LTM 3Y Avg 5Y Avg 10Y Avg
Tata Steel Ltd
Vale SA

Net Margin

TTST
4.1%
VALE3
6.5%
LTM 3Y Avg 5Y Avg 10Y Avg
Tata Steel Ltd
Vale SA

FCF Margin

TTST
7.1%
VALE3
7.2%
LTM 3Y Avg 5Y Avg 10Y Avg
Tata Steel Ltd
Vale SA

ROE

TTST
9.9%
VALE3
7.1%
LTM 3Y Avg 5Y Avg 10Y Avg
Tata Steel Ltd
Vale SA

ROA

TTST
3.2%
VALE3
2.8%
LTM 3Y Avg 5Y Avg 10Y Avg
Tata Steel Ltd
Vale SA

ROIC

TTST
5.5%
VALE3
6.4%
LTM 3Y Avg 5Y Avg 10Y Avg
Tata Steel Ltd
Vale SA

ROCE

TTST
10.2%
VALE3
15.1%
LTM 3Y Avg 5Y Avg 10Y Avg
Tata Steel Ltd
Vale SA

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
TTST, VALE3

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Performance Gap
TTST, VALE3

Performance Gap Between TTST and VALE3
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Performance By Year
TTST, VALE3

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TTST
VALE3
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Compare TTST to other stocks
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FVJ
Fortescue Ltd
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vs TTST
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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