` Comparison: PB, NESN - Alpha Spread

P
PB
vs
NESN

Over the past 12 months, PB has underperformed NESN, delivering a return of -21% compared to the NESN's +6% growth.

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PB
NESN
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Valuation Comparison

P
PB Intrinsic Value
53.62 THB
Undervaluation 11%
Intrinsic Value
Price
NESN Intrinsic Value
125.8 CHF
Undervaluation 37%
Intrinsic Value
Price
Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
P
President Bakery PCL
SET:PB
47.5 THB
Nestle SA
SIX:NESN
78.7 CHF
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Valuation Scenario:
Bear Case
Base Case
Bull Case

Growth Comparison

Growth Over Time
PB, NESN

PB
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
P
President Bakery PCL
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
PB, NESN

PB
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
P
President Bakery PCL
SET:PB
Nestle SA
SIX:NESN
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What is Free Cash Flow?

Gross Margin

PB
44.7%
NESN
46.4%
LTM 3Y Avg 5Y Avg 10Y Avg
P
President Bakery PCL
Nestle SA

Operating Margin

PB
19.4%
NESN
16.5%
LTM 3Y Avg 5Y Avg 10Y Avg
P
President Bakery PCL
Nestle SA

Net Margin

PB
18.7%
NESN
11.4%
LTM 3Y Avg 5Y Avg 10Y Avg
P
President Bakery PCL
Nestle SA

FCF Margin

PB
6.4%
NESN
9.9%
LTM 3Y Avg 5Y Avg 10Y Avg
P
President Bakery PCL
Nestle SA

ROE

PB
10.8%
NESN
33.4%
LTM 3Y Avg 5Y Avg 10Y Avg
P
President Bakery PCL
Nestle SA

ROA

PB
9.8%
NESN
7.8%
LTM 3Y Avg 5Y Avg 10Y Avg
P
President Bakery PCL
Nestle SA

ROIC

PB
19.6%
NESN
10.3%
LTM 3Y Avg 5Y Avg 10Y Avg
P
President Bakery PCL
Nestle SA

ROCE

PB
11.1%
NESN
16.7%
LTM 3Y Avg 5Y Avg 10Y Avg
P
President Bakery PCL
Nestle SA

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
PB, NESN

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Performance Gap
PB, NESN

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PB
NESN
Difference
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Performance By Year
PB, NESN

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PB
NESN
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