` Comparison: BSL, NTC - Alpha Spread

BSL
vs
N
NTC

Over the past 12 months, BSL has underperformed NTC, delivering a return of +2% compared to the NTC's +14% growth.

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BSL
NTC
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One-click summary across all key metrics.
Ranked results with clear takeaways.
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Valuation
Growth
Profitability
Solvency
Comparing Valuation
Running a multi-layered valuation analysis to compare how attractive each stock is.
Comparing Growth
Financial growth, forecasts, volatility, and historical drawdowns.
Comparing Profitability
Margins, returns on capital, and the consistency of profitability.
Comparing Solvency
Debt levels, liquidity, interest coverage, and bankruptcy risk.
Summarizing...
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Valuation Comparison

BSL Intrinsic Value
1 SGD
Overvaluation 4%
Intrinsic Value
Price
N
NTC Intrinsic Value
Not Available
Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
Raffles Medical Group Ltd
SGX:BSL
1.04 SGD
N
Netcare Ltd
JSE:NTC
1 363 Zac
Valuation Scenario:
Bear Case
Base Case
Bull Case

Growth Comparison

Growth Over Time
BSL, NTC

BSL
NTC
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Revenue
www.alphaspread.com
Company LTM Historical Growth Growth Streak % Positive Years Max Drawdown Volatility Forecasted Growth
3 Years 5 Years 10 Years 1 Year 3 Years
Raffles Medical Group Ltd
Revenue
N
Netcare Ltd
Revenue

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

Profitability Comparison

Free Cash Flow
BSL, NTC

BSL
NTC
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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
Raffles Medical Group Ltd
SGX:BSL
N
Netcare Ltd
JSE:NTC
What is Free Cash Flow?

Gross Margin

BSL
86.9%
NTC
49.6%
LTM 3Y Avg 5Y Avg 10Y Avg
Raffles Medical Group Ltd
N
Netcare Ltd

Operating Margin

BSL
11.3%
NTC
13.8%
LTM 3Y Avg 5Y Avg 10Y Avg
Raffles Medical Group Ltd
N
Netcare Ltd

Net Margin

BSL
8.3%
NTC
6%
LTM 3Y Avg 5Y Avg 10Y Avg
Raffles Medical Group Ltd
N
Netcare Ltd

FCF Margin

BSL
8.7%
NTC
4.8%
LTM 3Y Avg 5Y Avg 10Y Avg
Raffles Medical Group Ltd
N
Netcare Ltd

ROE

BSL
6%
NTC
14.1%
LTM 3Y Avg 5Y Avg 10Y Avg
Raffles Medical Group Ltd
N
Netcare Ltd

ROA

BSL
4.1%
NTC
5.5%
LTM 3Y Avg 5Y Avg 10Y Avg
Raffles Medical Group Ltd
N
Netcare Ltd

ROIC

BSL
6.3%
NTC
11.2%
LTM 3Y Avg 5Y Avg 10Y Avg
Raffles Medical Group Ltd
N
Netcare Ltd

ROCE

BSL
7.4%
NTC
15.8%
LTM 3Y Avg 5Y Avg 10Y Avg
Raffles Medical Group Ltd
N
Netcare Ltd

Solvency Comparison

Balance Sheet Comparison

Stocks Performance

Stocks Performance
BSL, NTC

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Performance Gap
BSL, NTC

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BSL
NTC
Difference
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Performance By Year
BSL, NTC

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BSL
NTC
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