` Comparison: WHR, GMG - Alpha Spread

WHR
vs
GMG

Over the past 12 months, WHR has significantly outperformed GMG, delivering a return of +48% compared to the GMG's 22% drop.

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WHR
GMG
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Valuation Comparison

WHR Intrinsic Value
99 GBX
Overvaluation 12%
Intrinsic Value
Price
GMG Intrinsic Value
25.23 AUD
Overvaluation 12%
Intrinsic Value
Price
Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
Warehouse REIT PLC
LSE:WHR
113 GBX
Goodman Group
ASX:GMG
28.68 AUD
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Valuation Scenario:
Bear Case
Base Case
Bull Case

Growth Comparison

Growth Over Time
WHR, GMG

WHR
GMG
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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
Warehouse REIT PLC
Revenue
Goodman Group
Revenue

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

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Profitability Comparison

Free Cash Flow
WHR, GMG

WHR
GMG
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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
Warehouse REIT PLC
LSE:WHR
Goodman Group
ASX:GMG
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What is Free Cash Flow?

Gross Margin

WHR
82.6%
GMG
65.8%
LTM 3Y Avg 5Y Avg 10Y Avg
Warehouse REIT PLC
Goodman Group

Operating Margin

WHR
67.5%
GMG
33.1%
LTM 3Y Avg 5Y Avg 10Y Avg
Warehouse REIT PLC
Goodman Group

Net Margin

WHR
80.4%
GMG
72.1%
LTM 3Y Avg 5Y Avg 10Y Avg
Warehouse REIT PLC
Goodman Group

FCF Margin

WHR
57%
GMG
41.3%
LTM 3Y Avg 5Y Avg 10Y Avg
Warehouse REIT PLC
Goodman Group

ROE

WHR
7.7%
GMG
9.1%
LTM 3Y Avg 5Y Avg 10Y Avg
Warehouse REIT PLC
Goodman Group

ROA

WHR
4.9%
GMG
6.5%
LTM 3Y Avg 5Y Avg 10Y Avg
Warehouse REIT PLC
Goodman Group

ROIC

WHR
4.2%
GMG
3%
LTM 3Y Avg 5Y Avg 10Y Avg
Warehouse REIT PLC
Goodman Group

ROCE

WHR
4.2%
GMG
3.2%
LTM 3Y Avg 5Y Avg 10Y Avg
Warehouse REIT PLC
Goodman Group

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
WHR, GMG

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Performance Gap
WHR, GMG

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WHR
GMG
Difference
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Performance By Year
WHR, GMG

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WHR
GMG
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