` Comparison: ES vs IBE - Alpha Spread

ES
vs
IBE

Over the past 12 months, ES has underperformed IBE, delivering a return of +24% compared to the IBE's +46% growth.

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ES
IBE
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Valuation Comparison

ES Intrinsic Value
101.98 USD
Undervaluation 25%
Intrinsic Value
Price
IBE Intrinsic Value
13.55 EUR
Overvaluation 33%
Intrinsic Value
Price
Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
Eversource Energy
NYSE:ES
76.2 USD
Iberdrola SA
MAD:IBE
20.13 EUR
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Valuation Scenario:
Bear Case
Base Case
Bull Case

Growth Comparison

Growth Over Time
ES, IBE

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
Eversource Energy
Revenue
Iberdrola SA
Revenue

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

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Profitability Comparison

Free Cash Flow
ES, IBE

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
Eversource Energy
NYSE:ES
Iberdrola SA
MAD:IBE
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What is Free Cash Flow?

Gross Margin

ES
0%
IBE
47.1%
LTM 3Y Avg 5Y Avg 10Y Avg
Eversource Energy
Iberdrola SA

Operating Margin

ES
22.1%
IBE
19.4%
LTM 3Y Avg 5Y Avg 10Y Avg
Eversource Energy
Iberdrola SA

Net Margin

ES
12.5%
IBE
12%
LTM 3Y Avg 5Y Avg 10Y Avg
Eversource Energy
Iberdrola SA

FCF Margin

ES
-3.9%
IBE
9.9%
LTM 3Y Avg 5Y Avg 10Y Avg
Eversource Energy
Iberdrola SA

ROE

ES
10.8%
IBE
9.8%
LTM 3Y Avg 5Y Avg 10Y Avg
Eversource Energy
Iberdrola SA

ROA

ES
2.8%
IBE
3.5%
LTM 3Y Avg 5Y Avg 10Y Avg
Eversource Energy
Iberdrola SA

ROIC

ES
4.7%
IBE
5%
LTM 3Y Avg 5Y Avg 10Y Avg
Eversource Energy
Iberdrola SA

ROCE

ES
5.5%
IBE
6.9%
LTM 3Y Avg 5Y Avg 10Y Avg
Eversource Energy
Iberdrola SA

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
ES, IBE

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Performance Gap
ES, IBE

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ES
IBE
Difference
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Performance By Year
ES, IBE

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

Warren Buffett