` Comparison: FNOX, APP - Alpha Spread

FNOX
vs
APP

Over the past 12 months, FNOX has underperformed APP, delivering a return of +21% compared to the APP's +108% growth.

Valuation Growth Profitability Solvency Stocks Performance
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FNOX
APP
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Stocks Compared:
FNOX APP
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Valuation Comparison

FNOX Intrinsic Value
43.72 SEK
Overvaluation 51%
Intrinsic Value
Price
APP Intrinsic Value
270.99 USD
Overvaluation 61%
Intrinsic Value
Price
Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
Fortnox AB
STO:FNOX
89.4 SEK
Applovin Corp
NASDAQ:APP
703.28 USD
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Valuation Scenario:
Bear Case
Base Case
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Growth Comparison

Growth Over Time
FNOX, APP

FNOX
APP
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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
Fortnox AB
Revenue
Applovin Corp
Revenue

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

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Profitability Comparison

Free Cash Flow
FNOX, APP

FNOX
APP
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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
Fortnox AB
STO:FNOX
Applovin Corp
NASDAQ:APP
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What is Free Cash Flow?

Gross Margin

FNOX
99.3%
APP
83.3%
LTM 3Y Avg 5Y Avg 10Y Avg
Fortnox AB
Applovin Corp

Operating Margin

FNOX
43.8%
APP
59.9%
LTM 3Y Avg 5Y Avg 10Y Avg
Fortnox AB
Applovin Corp

Net Margin

FNOX
36%
APP
51.3%
LTM 3Y Avg 5Y Avg 10Y Avg
Fortnox AB
Applovin Corp

FCF Margin

FNOX
30.4%
APP
61.6%
LTM 3Y Avg 5Y Avg 10Y Avg
Fortnox AB
Applovin Corp

ROE

FNOX
34.3%
APP
234.6%
LTM 3Y Avg 5Y Avg 10Y Avg
Fortnox AB
Applovin Corp

ROA

FNOX
23.7%
APP
48%
LTM 3Y Avg 5Y Avg 10Y Avg
Fortnox AB
Applovin Corp

ROIC

FNOX
29.2%
APP
70.4%
LTM 3Y Avg 5Y Avg 10Y Avg
Fortnox AB
Applovin Corp

ROCE

FNOX
38.2%
APP
66.6%
LTM 3Y Avg 5Y Avg 10Y Avg
Fortnox AB
Applovin Corp

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
FNOX, APP

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FNOX
APP
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1Y 3Y 5Y 10Y 15Y 20Y
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Performance Gap
FNOX, APP

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FNOX
APP
Difference
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1Y 3Y 5Y 10Y 15Y 20Y

Performance By Year
FNOX, APP

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APP
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