` Comparison: ENEA vs IBM - Alpha Spread

ENEA
vs
IBM

Over the past 12 months, ENEA has underperformed IBM, delivering a return of -34% compared to the IBM's 1% drop.

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ENEA
IBM
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Valuation Comparison

ENEA Intrinsic Value
99.4 SEK
Undervaluation 41%
Intrinsic Value
Price
IBM Intrinsic Value
207.84 USD
Overvaluation 20%
Intrinsic Value
Price
Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
Enea AB
STO:ENEA
58.6 SEK
International Business Machines Corp
NYSE:IBM
259.11 USD
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Valuation Scenario:
Bear Case
Base Case
Bull Case

Growth Comparison

Growth Over Time
ENEA, IBM

ENEA
IBM
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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
Enea AB
Revenue
International Business Machines Corp
Revenue

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

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Profitability Comparison

Free Cash Flow
ENEA, IBM

ENEA
IBM
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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
Enea AB
STO:ENEA
International Business Machines Corp
NYSE:IBM
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What is Free Cash Flow?

Gross Margin

ENEA
77.3%
IBM
58.2%

Operating Margin

ENEA
13.6%
IBM
15.9%

Net Margin

ENEA
5.5%
IBM
15.7%

FCF Margin

ENEA
11.8%
IBM
17.1%

ROE

ENEA
2.8%
IBM
35.3%

ROA

ENEA
2%
IBM
7.3%

ROIC

ENEA
5.7%
IBM
9.7%

ROCE

ENEA
6%
IBM
9.9%

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
ENEA, IBM

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Performance Gap
ENEA, IBM

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ENEA
IBM
Difference
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Performance By Year
ENEA, IBM

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ENEA
IBM
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Intrinsic Value is all-important and is the only logical way to evaluate the relative attractiveness of investments and businesses.

Warren Buffett