` Comparison: MCEM vs HEI - Alpha Spread

MCEM
vs
HEI

Over the past 12 months, MCEM has underperformed HEI, delivering a return of +9% compared to the HEI's +14% growth.

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MCEM
HEI
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Valuation Comparison

MCEM Intrinsic Value
265.2 USD
Undervaluation 5%
Intrinsic Value
Price $252
HEI Intrinsic Value
195 EUR
Undervaluation 3%
Intrinsic Value
Price €189.6
Company Last Price Intrinsic Value DCF Value Multiples-Based Value Wall St Target
Monarch Cement Co
OTC:MCEM
252 USD
HeidelbergCement AG
XETRA:HEI
189.6 EUR
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Valuation Scenario:
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Growth Comparison

Growth Over Time
MCEM, HEI

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HEI
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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
Monarch Cement Co
Revenue
HeidelbergCement AG
Revenue

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

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Profitability Comparison

Free Cash Flow
MCEM, HEI

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HEI
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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
Monarch Cement Co
OTC:MCEM
HeidelbergCement AG
XETRA:HEI
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What is Free Cash Flow?

Gross Margin

MCEM
37.3%
HEI
64.2%

Operating Margin

MCEM
27.4%
HEI
14.4%

Net Margin

MCEM
26%
HEI
9%

FCF Margin

MCEM
14.5%
HEI
8.6%

ROE

MCEM
15.5%
HEI
10.5%

ROA

MCEM
13.6%
HEI
5.3%

ROIC

MCEM
14%
HEI
7.5%

ROCE

MCEM
14.9%
HEI
10.4%

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
MCEM, HEI

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Performance Gap
MCEM, HEI

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MCEM
HEI
Difference
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Performance By Year
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HEI
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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