` Comparison: OPTN vs ROG - Alpha Spread

OPTN
vs
ROG

Over the past 12 months, OPTN has outperformed ROG, delivering a return of +5% compared to the ROG's +2% growth.

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OPTN
ROG
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Valuation Comparison

OPTN Intrinsic Value
20.6 USD
Undervaluation 53%
Intrinsic Value
Price
ROG Intrinsic Value
416.39 CHF
Undervaluation 27%
Intrinsic Value
Price
Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
OptiNose Inc
NASDAQ:OPTN
9.6 USD
Roche Holding AG
SIX:ROG
305.7 CHF
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Valuation Scenario:
Bear Case
Base Case
Bull Case

Growth Comparison

Growth Over Time
OPTN, ROG

OPTN
ROG
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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
OptiNose Inc
Revenue
Roche Holding AG
Revenue

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

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Profitability Comparison

Free Cash Flow
OPTN, ROG

OPTN
ROG
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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
OptiNose Inc
NASDAQ:OPTN
Roche Holding AG
SIX:ROG
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What is Free Cash Flow?

Gross Margin

OPTN
90.8%
ROG
73.9%
LTM 3Y Avg 5Y Avg 10Y Avg
OptiNose Inc
Roche Holding AG

Operating Margin

OPTN
-20.9%
ROG
35%
LTM 3Y Avg 5Y Avg 10Y Avg
OptiNose Inc
Roche Holding AG

Net Margin

OPTN
-27.5%
ROG
20.9%
LTM 3Y Avg 5Y Avg 10Y Avg
OptiNose Inc
Roche Holding AG

FCF Margin

OPTN
-57.2%
ROG
17.7%
LTM 3Y Avg 5Y Avg 10Y Avg
OptiNose Inc
Roche Holding AG

ROE

OPTN
33.9%
ROG
39.3%
LTM 3Y Avg 5Y Avg 10Y Avg
OptiNose Inc
Roche Holding AG

ROA

OPTN
-18.2%
ROG
12.7%
LTM 3Y Avg 5Y Avg 10Y Avg
OptiNose Inc
Roche Holding AG

ROIC

OPTN
-44.1%
ROG
19.4%
LTM 3Y Avg 5Y Avg 10Y Avg
OptiNose Inc
Roche Holding AG

ROCE

OPTN
31.7%
ROG
29.2%
LTM 3Y Avg 5Y Avg 10Y Avg
OptiNose Inc
Roche Holding AG

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
OPTN, ROG

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Performance Gap
OPTN, ROG

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OPTN
ROG
Difference
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Performance By Year
OPTN, ROG

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OPTN
ROG
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Intrinsic Value is all-important and is the only logical way to evaluate the relative attractiveness of investments and businesses.

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