` Comparison: GMKN, GMEXICOB - Alpha Spread

GMKN
vs
GMEXICOB

Over the past 12 months, GMKN has underperformed GMEXICOB, delivering a return of +21% compared to the GMEXICOB's +64% growth.

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GMKN
GMEXICOB
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Valuation Comparison

GMKN Intrinsic Value
106.49 RUB
Overvaluation 18%
Intrinsic Value
Price
GMEXICOB Intrinsic Value
123.47 MXN
Overvaluation 26%
Intrinsic Value
Price
Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
GMK Noril'skiy Nikel' PAO
MOEX:GMKN
129.14 RUB
Grupo Mexico SAB de CV
BMV:GMEXICOB
167.01 MXN
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Valuation Scenario:
Bear Case
Base Case
Bull Case

Growth Comparison

Growth Over Time
GMKN, GMEXICOB

GMKN
GMEXICOB
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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
GMK Noril'skiy Nikel' PAO
Revenue
Grupo Mexico SAB de CV
Revenue

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

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Profitability Comparison

Free Cash Flow
GMKN, GMEXICOB

GMKN
GMEXICOB
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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
GMK Noril'skiy Nikel' PAO
MOEX:GMKN
Grupo Mexico SAB de CV
BMV:GMEXICOB
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What is Free Cash Flow?

Gross Margin

GMKN
43.9%
GMEXICOB
46.7%

Operating Margin

GMKN
31.6%
GMEXICOB
44.3%

Net Margin

GMKN
10.1%
GMEXICOB
23.3%

FCF Margin

GMKN
20.9%
GMEXICOB
23.4%

ROE

GMKN
17.3%
GMEXICOB
18.3%

ROA

GMKN
5.3%
GMEXICOB
10.2%

ROIC

GMKN
14.3%
GMEXICOB
15.7%

ROCE

GMKN
21.8%
GMEXICOB
20.6%

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
GMKN, GMEXICOB

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GMKN
GMEXICOB
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Performance Gap
GMKN, GMEXICOB

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GMKN
GMEXICOB
Difference
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Performance By Year
GMKN, GMEXICOB

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GMKN
GMEXICOB
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