` Comparison: PAX, BLK - Alpha Spread

PAX
vs
BLK

Over the past 12 months, PAX has significantly outperformed BLK, delivering a return of +30% compared to the BLK's +2% growth.

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PAX
BLK
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Valuation Comparison

PAX Intrinsic Value
19.92 USD
Undervaluation 19%
Intrinsic Value
Price
BLK Intrinsic Value
1 142.08 USD
Undervaluation 5%
Intrinsic Value
Price
Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
Patria Investments Ltd
NASDAQ:PAX
16.18 USD
BlackRock Inc
NYSE:BLK
1 089.09 USD
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Valuation Scenario:
Bear Case
Base Case
Bull Case

Growth Comparison

Growth Over Time
PAX, BLK

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BLK
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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
Patria Investments Ltd
Revenue
BlackRock Inc
Revenue

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

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Profitability Comparison

Free Cash Flow
PAX, BLK

PAX
BLK
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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
Patria Investments Ltd
NASDAQ:PAX
BlackRock Inc
NYSE:BLK
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What is Free Cash Flow?

Gross Margin

PAX
50.8%
BLK
81.5%

Operating Margin

PAX
33.7%
BLK
33.3%

Net Margin

PAX
26.2%
BLK
26.6%

FCF Margin

PAX
64.3%
BLK
17.2%

ROE

PAX
20.2%
BLK
12.6%

ROA

PAX
8%
BLK
4.1%

ROIC

PAX
11.5%
BLK
4.5%

ROCE

PAX
15.4%
BLK
5.4%

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
PAX, BLK

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Performance Gap
PAX, BLK

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PAX
BLK
Difference
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Performance By Year
PAX, BLK

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PAX
BLK
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