` Comparison: VARN vs VNA - Alpha Spread
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VARN
vs
VNA

Over the past 12 months, VARN has underperformed VNA, delivering a return of -38% compared to the VNA's 4% drop.

Valuation Growth Profitability Solvency Stocks Performance
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VARN
VNA
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Stocks Compared:
VARN VNA
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Valuation Comparison

VARN Intrinsic Value
150.83 CHF
Undervaluation 88%
Intrinsic Value
Price
VNA Intrinsic Value
45.94 EUR
Undervaluation 41%
Intrinsic Value
Price
Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
Varia US Properties AG
SIX:VARN
17.6 CHF
Vonovia SE
XETRA:VNA
27.26 EUR
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Valuation Scenario:
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Growth Comparison

Growth Over Time
VARN, VNA

VARN
VNA
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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
Varia US Properties AG
Revenue
Vonovia SE
Revenue

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

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Profitability Comparison

Free Cash Flow
VARN, VNA

VARN
VNA
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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
Varia US Properties AG
SIX:VARN
Vonovia SE
XETRA:VNA
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What is Free Cash Flow?

Gross Margin

VARN
71.1%
VNA
68.5%
LTM 3Y Avg 5Y Avg 10Y Avg
Varia US Properties AG
Vonovia SE

Operating Margin

VARN
44.5%
VNA
39.1%
LTM 3Y Avg 5Y Avg 10Y Avg
Varia US Properties AG
Vonovia SE

Net Margin

VARN
-8.5%
VNA
53.8%
LTM 3Y Avg 5Y Avg 10Y Avg
Varia US Properties AG
Vonovia SE

FCF Margin

VARN
20.5%
VNA
38.9%
LTM 3Y Avg 5Y Avg 10Y Avg
Varia US Properties AG
Vonovia SE

ROE

VARN
-2.4%
VNA
11.1%
LTM 3Y Avg 5Y Avg 10Y Avg
Varia US Properties AG
Vonovia SE

ROA

VARN
-0.7%
VNA
3.1%
LTM 3Y Avg 5Y Avg 10Y Avg
Varia US Properties AG
Vonovia SE

ROIC

VARN
3.8%
VNA
6%
LTM 3Y Avg 5Y Avg 10Y Avg
Varia US Properties AG
Vonovia SE

ROCE

VARN
3.9%
VNA
2.4%
LTM 3Y Avg 5Y Avg 10Y Avg
Varia US Properties AG
Vonovia SE

Solvency Comparison

Varia US Properties AG
Equity Waterfall
Assets
Liabilities
Equity
What is Equity Waterfall?
Vonovia SE
Equity Waterfall
Assets
Liabilities
Equity
What is Equity Waterfall?
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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
VARN, VNA

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VNA
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1Y 3Y 5Y 10Y 15Y 20Y
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Performance Gap
VARN, VNA

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VARN
VNA
Difference
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1Y 3Y 5Y 10Y 15Y 20Y

Performance By Year
VARN, VNA

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VNA
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