` Comparison: ZVEZ vs 5E2 - Alpha Spread

Z
ZVEZ
vs
5E2

Over the past 12 months, ZVEZ has underperformed Seatrium Limited, delivering a return of -15% compared to the Seatrium Limited's 4% drop.

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ZVEZ
5E2
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Valuation Comparison

Z
ZVEZ Intrinsic Value
8.99 RUB
Undervaluation 18%
Intrinsic Value
Price
Intrinsic Value
2.74 SGD
Undervaluation 24%
Intrinsic Value
Price
Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
Z
Zvezda PAO
MOEX:ZVEZ
7.37 RUB
Seatrium Limited
SGX:5E2
2.08 SGD
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Valuation Scenario:
Bear Case
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Growth Comparison

Growth Over Time
ZVEZ, 5E2

ZVEZ
5E2
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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
Z
Zvezda PAO
Revenue
Seatrium Limited
Revenue

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

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Profitability Comparison

Free Cash Flow
ZVEZ, 5E2

ZVEZ
5E2
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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
Z
Zvezda PAO
MOEX:ZVEZ
Seatrium Limited
SGX:5E2
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What is Free Cash Flow?

Gross Margin

ZVEZ
23.2%
Seatrium Limited
5.1%
LTM 3Y Avg 5Y Avg 10Y Avg
Z
Zvezda PAO
Seatrium Limited

Operating Margin

ZVEZ
3.3%
Seatrium Limited
3.7%
LTM 3Y Avg 5Y Avg 10Y Avg
Z
Zvezda PAO
Seatrium Limited

Net Margin

ZVEZ
-4.3%
Seatrium Limited
2.5%
LTM 3Y Avg 5Y Avg 10Y Avg
Z
Zvezda PAO
Seatrium Limited

FCF Margin

ZVEZ
15.5%
Seatrium Limited
10.1%
LTM 3Y Avg 5Y Avg 10Y Avg
Z
Zvezda PAO
Seatrium Limited

ROE

ZVEZ
6.7%
Seatrium Limited
4.1%
LTM 3Y Avg 5Y Avg 10Y Avg
Z
Zvezda PAO
Seatrium Limited

ROA

ZVEZ
-1.3%
Seatrium Limited
1.5%
LTM 3Y Avg 5Y Avg 10Y Avg
Z
Zvezda PAO
Seatrium Limited

ROIC

ZVEZ
2.1%
Seatrium Limited
3%
LTM 3Y Avg 5Y Avg 10Y Avg
Z
Zvezda PAO
Seatrium Limited

ROCE

ZVEZ
19.2%
Seatrium Limited
4%
LTM 3Y Avg 5Y Avg 10Y Avg
Z
Zvezda PAO
Seatrium Limited

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
ZVEZ, 5E2

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Performance Gap
ZVEZ, 5E2

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ZVEZ
5E2
Difference
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Performance By Year
ZVEZ, 5E2

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ZVEZ
5E2
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