` Comparison: GDYN, IBM - Alpha Spread

GDYN
vs
IBM

Over the past 12 months, GDYN has underperformed IBM, delivering a return of -50% compared to the IBM's +35% growth.

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GDYN
IBM
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Valuation Comparison

GDYN Intrinsic Value
13.2 USD
Undervaluation 27%
Intrinsic Value
Price
IBM Intrinsic Value
208.85 USD
Overvaluation 32%
Intrinsic Value
Price
Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
Grid Dynamics Holdings Inc
NASDAQ:GDYN
9.69 USD
International Business Machines Corp
NYSE:IBM
309.24 USD
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Valuation Scenario:
Bear Case
Base Case
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Growth Comparison

Growth Over Time
GDYN, IBM

GDYN
IBM
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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
Grid Dynamics Holdings Inc
Revenue
International Business Machines Corp
Revenue

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

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Profitability Comparison

Free Cash Flow
GDYN, IBM

GDYN
IBM
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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
Grid Dynamics Holdings Inc
NASDAQ:GDYN
International Business Machines Corp
NYSE:IBM
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What is Free Cash Flow?

Gross Margin

GDYN
35.3%
IBM
57.8%

Operating Margin

GDYN
0.2%
IBM
16.1%

Net Margin

GDYN
3.4%
IBM
12.1%

FCF Margin

GDYN
5.8%
IBM
18.3%

ROE

GDYN
3%
IBM
30.2%

ROA

GDYN
2.6%
IBM
5.6%

ROIC

GDYN
0.3%
IBM
6.9%

ROCE

GDYN
0.2%
IBM
9.7%

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
GDYN, IBM

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Performance Gap
GDYN, IBM

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GDYN
IBM
Difference
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Performance By Year
GDYN, IBM

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GDYN
IBM
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