` Comparison: ALLE, CARR - Alpha Spread

ALLE
vs
CARR

Over the past 12 months, ALLE has significantly outperformed CARR, delivering a return of +16% compared to the CARR's 27% drop.

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ALLE
CARR
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Valuation Comparison

ALLE Intrinsic Value
148.24 USD
Overvaluation 8%
Intrinsic Value
Price
CARR Intrinsic Value
61.89 USD
Undervaluation 13%
Intrinsic Value
Price
Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
Allegion PLC
NYSE:ALLE
161.6 USD
Carrier Global Corp
NYSE:CARR
53.8 USD
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Valuation Scenario:
Bear Case
Base Case
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Growth Comparison

Growth Over Time
ALLE, CARR

ALLE
CARR
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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
Allegion PLC
Revenue
Carrier Global Corp
Revenue

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

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Profitability Comparison

Free Cash Flow
ALLE, CARR

ALLE
CARR
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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
Allegion PLC
NYSE:ALLE
Carrier Global Corp
NYSE:CARR
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What is Free Cash Flow?

Gross Margin

ALLE
45.1%
CARR
27.4%
LTM 3Y Avg 5Y Avg 10Y Avg
Allegion PLC
Carrier Global Corp

Operating Margin

ALLE
21%
CARR
11%
LTM 3Y Avg 5Y Avg 10Y Avg
Allegion PLC
Carrier Global Corp

Net Margin

ALLE
16.1%
CARR
18.1%
LTM 3Y Avg 5Y Avg 10Y Avg
Allegion PLC
Carrier Global Corp

FCF Margin

ALLE
17.1%
CARR
6.4%
LTM 3Y Avg 5Y Avg 10Y Avg
Allegion PLC
Carrier Global Corp

ROE

ALLE
36.4%
CARR
27.3%
LTM 3Y Avg 5Y Avg 10Y Avg
Allegion PLC
Carrier Global Corp

ROA

ALLE
12.6%
CARR
10.2%
LTM 3Y Avg 5Y Avg 10Y Avg
Allegion PLC
Carrier Global Corp

ROIC

ALLE
16.9%
CARR
4.2%
LTM 3Y Avg 5Y Avg 10Y Avg
Allegion PLC
Carrier Global Corp

ROCE

ALLE
20.1%
CARR
8.1%
LTM 3Y Avg 5Y Avg 10Y Avg
Allegion PLC
Carrier Global Corp

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
ALLE, CARR

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Performance Gap
ALLE, CARR

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ALLE
CARR
Difference
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Performance By Year
ALLE, CARR

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ALLE
CARR
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