` Comparison: GAM vs NY1 - Alpha Spread

GAM
vs
N
NY1

Over the past 12 months, GAM has underperformed NY1, delivering a return of +26% compared to the NY1's +56% growth.

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GAM
NY1
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Valuation Comparison

GAM Intrinsic Value
0.4644 CHF
Undervaluation 74%
Intrinsic Value
Price
N
NY1 Intrinsic Value
2 455.59 Zac
Overvaluation 54%
Intrinsic Value
Price
Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
GAM Holding AG
SIX:GAM
0.1225 CHF
N
Ninety One Ltd
JSE:NY1
5 321 Zac
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Valuation Scenario:
Bear Case
Base Case
Bull Case

Growth Comparison

Growth Over Time
GAM, NY1

GAM
NY1
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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
GAM Holding AG
Revenue
N
Ninety One Ltd
Revenue

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

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Profitability Comparison

Free Cash Flow
GAM, NY1

GAM
NY1
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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
GAM Holding AG
SIX:GAM
N
Ninety One Ltd
JSE:NY1
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What is Free Cash Flow?

Gross Margin

GAM
61.6%
NY1
85.3%
LTM 3Y Avg 5Y Avg 10Y Avg
GAM Holding AG
N
Ninety One Ltd

Operating Margin

GAM
-74%
NY1
26.3%
LTM 3Y Avg 5Y Avg 10Y Avg
GAM Holding AG
N
Ninety One Ltd

Net Margin

GAM
-73.8%
NY1
22.1%
LTM 3Y Avg 5Y Avg 10Y Avg
GAM Holding AG
N
Ninety One Ltd

FCF Margin

GAM
-75.9%
NY1
29.1%
LTM 3Y Avg 5Y Avg 10Y Avg
GAM Holding AG
N
Ninety One Ltd

ROE

GAM
-134%
NY1
45.4%
LTM 3Y Avg 5Y Avg 10Y Avg
GAM Holding AG
N
Ninety One Ltd

ROA

GAM
-40.8%
NY1
1.3%
LTM 3Y Avg 5Y Avg 10Y Avg
GAM Holding AG
N
Ninety One Ltd

ROIC

GAM
-73.9%
NY1
76.9%
LTM 3Y Avg 5Y Avg 10Y Avg
GAM Holding AG
N
Ninety One Ltd

ROCE

GAM
-80.2%
NY1
37.2%
LTM 3Y Avg 5Y Avg 10Y Avg
GAM Holding AG
N
Ninety One Ltd

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
GAM, NY1

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Performance Gap
GAM, NY1

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GAM
NY1
Difference
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Performance By Year
GAM, NY1

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GAM
NY1
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