` Comparison: SHE vs NOVN - Alpha Spread

SHE
vs
NOVN

Over the past 12 months, SHE has underperformed NOVN, delivering a return of 0% compared to the NOVN's +33% growth.

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SHE
NOVN
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Valuation Comparison

SHE Intrinsic Value
Not Available
NOVN Intrinsic Value
107.11 CHF
Overvaluation 18%
Intrinsic Value
Price
Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
Shedir Pharma Srl Unipersonale
MIL:SHE
4.88 EUR
Novartis AG
SIX:NOVN
130.06 CHF
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Valuation Scenario:
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Base Case
Bull Case

Growth Comparison

Growth Over Time
SHE, NOVN

SHE
NOVN
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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
Shedir Pharma Srl Unipersonale
Revenue
Novartis AG
Revenue

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

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Profitability Comparison

Free Cash Flow
SHE, NOVN

SHE
NOVN
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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
Shedir Pharma Srl Unipersonale
MIL:SHE
Novartis AG
SIX:NOVN
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What is Free Cash Flow?

Gross Margin

SHE
59.5%
NOVN
75.8%

Operating Margin

SHE
14.5%
NOVN
33.2%

Net Margin

SHE
10%
NOVN
24.8%

FCF Margin

SHE
11.6%
NOVN
27.1%

ROE

SHE
17.5%
NOVN
31%

ROA

SHE
10.8%
NOVN
13.1%

ROIC

SHE
18.1%
NOVN
17.8%

ROCE

SHE
22.2%
NOVN
23.8%

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
SHE, NOVN

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Performance Gap
SHE, NOVN

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SHE
NOVN
Difference
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Performance By Year
SHE, NOVN

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SHE
NOVN
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Compare SHE to other stocks
LLY
Eli Lilly and Co
Cheaper
vs SHE
JNJ
Johnson & Johnson
Cheaper
vs SHE
ROG
Roche Holding AG
Cheaper
vs SHE
AZN
AstraZeneca PLC
Cheaper
vs SHE
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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