` Comparison: EQUEY vs SO - Alpha Spread

EQUEY
vs
SO

Over the past 12 months, EQUEY has significantly outperformed SO, delivering a return of +40% compared to the SO's +10% growth.

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EQUEY
SO
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Valuation Comparison

EQUEY Intrinsic Value
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SO Intrinsic Value
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Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
Equatorial Energia SA
OTC:EQUEY
7.8 USD
Southern Co
NYSE:SO
94.555 USD
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Valuation Scenario:
Bear Case
Base Case
Bull Case

Growth Comparison

Growth Over Time
EQUEY, SO

EQUEY
SO
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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
Equatorial Energia SA
Revenue
Southern Co
Revenue

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

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Profitability Comparison

Free Cash Flow
EQUEY, SO

EQUEY
SO
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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
Equatorial Energia SA
OTC:EQUEY
Southern Co
NYSE:SO
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What is Free Cash Flow?

Gross Margin

EQUEY
27.5%
SO
89.3%
LTM 3Y Avg 5Y Avg 10Y Avg
Equatorial Energia SA
Southern Co

Operating Margin

EQUEY
18.8%
SO
25.7%
LTM 3Y Avg 5Y Avg 10Y Avg
Equatorial Energia SA
Southern Co

Net Margin

EQUEY
7.4%
SO
15.4%
LTM 3Y Avg 5Y Avg 10Y Avg
Equatorial Energia SA
Southern Co

FCF Margin

EQUEY
-1.2%
SO
-6.3%
LTM 3Y Avg 5Y Avg 10Y Avg
Equatorial Energia SA
Southern Co

ROE

EQUEY
14.5%
SO
13.1%
LTM 3Y Avg 5Y Avg 10Y Avg
Equatorial Energia SA
Southern Co

ROA

EQUEY
3.3%
SO
3%
LTM 3Y Avg 5Y Avg 10Y Avg
Equatorial Energia SA
Southern Co

ROIC

EQUEY
9.4%
SO
4.2%
LTM 3Y Avg 5Y Avg 10Y Avg
Equatorial Energia SA
Southern Co

ROCE

EQUEY
10.1%
SO
5.5%
LTM 3Y Avg 5Y Avg 10Y Avg
Equatorial Energia SA
Southern Co

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
EQUEY, SO

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Performance Gap
EQUEY, SO

Performance Gap Between EQUEY and SO
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Performance By Year
EQUEY, SO

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EQUEY
SO
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