` Comparison: CARM vs O - Alpha Spread

CARM
vs
O

Over the past 12 months, CARM has underperformed O, delivering a return of -4% compared to the O's +17% growth.

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CARM
O
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Valuation Comparison

CARM Intrinsic Value
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O Intrinsic Value
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Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
Carmila SA
PAR:CARM
16.96 EUR
Realty Income Corp
NYSE:O
64.4 USD
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Valuation Scenario:
Bear Case
Base Case
Bull Case

Growth Comparison

Growth Over Time
CARM, O

Revenue
www.alphaspread.com
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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
Carmila SA
Revenue
Realty Income Corp
Revenue

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

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Profitability Comparison

Free Cash Flow
CARM, O

Free Cash Flow
www.alphaspread.com
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Company LTM Average Historical Growth FCF Margin Conversion
3 Years 5 Years 3 Years 5 Years 10 Years
Carmila SA
PAR:CARM
Realty Income Corp
NYSE:O
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What is Free Cash Flow?

Gross Margin

CARM
72.6%
O
92.6%
LTM 3Y Avg 5Y Avg 10Y Avg
Carmila SA
Realty Income Corp

Operating Margin

CARM
88%
O
44.4%
LTM 3Y Avg 5Y Avg 10Y Avg
Carmila SA
Realty Income Corp

Net Margin

CARM
64.3%
O
17.2%
LTM 3Y Avg 5Y Avg 10Y Avg
Carmila SA
Realty Income Corp

FCF Margin

CARM
61.1%
O
-19.5%
LTM 3Y Avg 5Y Avg 10Y Avg
Carmila SA
Realty Income Corp

ROE

CARM
10.7%
O
2.5%
LTM 3Y Avg 5Y Avg 10Y Avg
Carmila SA
Realty Income Corp

ROA

CARM
5.2%
O
1.4%
LTM 3Y Avg 5Y Avg 10Y Avg
Carmila SA
Realty Income Corp

ROIC

CARM
7.6%
O
3.3%
LTM 3Y Avg 5Y Avg 10Y Avg
Carmila SA
Realty Income Corp

ROCE

CARM
7.9%
O
3.7%
LTM 3Y Avg 5Y Avg 10Y Avg
Carmila SA
Realty Income Corp

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
CARM, O

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Performance Gap
CARM, O

Performance Gap Between CARM and O
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Performance By Year
CARM, O

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