` Comparison: VBL vs KO - Alpha Spread

VBL
vs
KO

Over the past 12 months, VBL has underperformed KO, delivering a return of -5% compared to the KO's +14% growth.

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VBL
KO
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Valuation Comparison

VBL Intrinsic Value
331.67 INR
Overvaluation 26%
Intrinsic Value
Price
KO Intrinsic Value
58.09 USD
Overvaluation 26%
Intrinsic Value
Price
Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
Varun Beverages Ltd
NSE:VBL
448.9 INR
Coca-Cola Co
NYSE:KO
78.52 USD
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Valuation Scenario:
Bear Case
Base Case
Bull Case

Growth Comparison

Growth Over Time
VBL, KO

Revenue
www.alphaspread.com
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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
Varun Beverages Ltd
Revenue
Coca-Cola Co
Revenue

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

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Profitability Comparison

Free Cash Flow
VBL, KO

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
Varun Beverages Ltd
NSE:VBL
Coca-Cola Co
NYSE:KO
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What is Free Cash Flow?

Gross Margin

VBL
53.9%
KO
61.6%
LTM 3Y Avg 5Y Avg 10Y Avg
Varun Beverages Ltd
Coca-Cola Co

Operating Margin

VBL
17.2%
KO
31%
LTM 3Y Avg 5Y Avg 10Y Avg
Varun Beverages Ltd
Coca-Cola Co

Net Margin

VBL
13.7%
KO
27.3%
LTM 3Y Avg 5Y Avg 10Y Avg
Varun Beverages Ltd
Coca-Cola Co

FCF Margin

VBL
3.5%
KO
11%
LTM 3Y Avg 5Y Avg 10Y Avg
Varun Beverages Ltd
Coca-Cola Co

ROE

VBL
16.8%
KO
46%
LTM 3Y Avg 5Y Avg 10Y Avg
Varun Beverages Ltd
Coca-Cola Co

ROA

VBL
12.5%
KO
12.8%
LTM 3Y Avg 5Y Avg 10Y Avg
Varun Beverages Ltd
Coca-Cola Co

ROIC

VBL
14.9%
KO
16.4%
LTM 3Y Avg 5Y Avg 10Y Avg
Varun Beverages Ltd
Coca-Cola Co

ROCE

VBL
19.1%
KO
18.7%
LTM 3Y Avg 5Y Avg 10Y Avg
Varun Beverages Ltd
Coca-Cola Co

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
VBL, KO

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Performance Gap
VBL, KO

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VBL
KO
Difference
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Performance By Year
VBL, KO

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