` Comparison: SAN vs NESN - Alpha Spread

SAN
vs
NESN

Over the past 12 months, SAN has significantly outperformed NESN, delivering a return of +75% compared to the NESN's 7% drop.

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SAN
NESN
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Valuation Comparison

SAN Intrinsic Value
9.88 NZD
Undervaluation 20%
Intrinsic Value
Price
NESN Intrinsic Value
111.79 CHF
Undervaluation 27%
Intrinsic Value
Price
Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
Sanford Ltd
NZX:SAN
7.92 NZD
Nestle SA
SIX:NESN
81.54 CHF
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Valuation Scenario:
Bear Case
Base Case
Bull Case

Growth Comparison

Growth Over Time
SAN, NESN

SAN
NESN
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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
Sanford Ltd
Revenue
Nestle SA
Revenue

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

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Profitability Comparison

Free Cash Flow
SAN, NESN

SAN
NESN
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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
Sanford Ltd
NZX:SAN
Nestle SA
SIX:NESN
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What is Free Cash Flow?

Gross Margin

SAN
26.5%
NESN
45.6%
LTM 3Y Avg 5Y Avg 10Y Avg
Sanford Ltd
Nestle SA

Operating Margin

SAN
17.5%
NESN
15.6%
LTM 3Y Avg 5Y Avg 10Y Avg
Sanford Ltd
Nestle SA

Net Margin

SAN
10.9%
NESN
10.1%
LTM 3Y Avg 5Y Avg 10Y Avg
Sanford Ltd
Nestle SA

FCF Margin

SAN
19.2%
NESN
12.3%
LTM 3Y Avg 5Y Avg 10Y Avg
Sanford Ltd
Nestle SA

ROE

SAN
8.8%
NESN
26.3%
LTM 3Y Avg 5Y Avg 10Y Avg
Sanford Ltd
Nestle SA

ROA

SAN
6.2%
NESN
6.8%
LTM 3Y Avg 5Y Avg 10Y Avg
Sanford Ltd
Nestle SA

ROIC

SAN
7.4%
NESN
10%
LTM 3Y Avg 5Y Avg 10Y Avg
Sanford Ltd
Nestle SA

ROCE

SAN
11%
NESN
15.3%
LTM 3Y Avg 5Y Avg 10Y Avg
Sanford Ltd
Nestle SA

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
SAN, NESN

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Performance Gap
SAN, NESN

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SAN
NESN
Difference
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Performance By Year
SAN, NESN

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SAN
NESN
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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