` Comparison: 4205 vs 2011 - Alpha Spread

4205
vs
C
2011

Over the past 12 months, Zeon Corp has significantly outperformed China Apex Group Ltd, delivering a return of +38% compared to the China Apex Group Ltd's +12% growth.

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4205
2011
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Valuation Comparison

Intrinsic Value
2 010.17 JPY
Overvaluation 3%
Intrinsic Value
Price
C
Intrinsic Value
0.93 HKD
Overvaluation 37%
Intrinsic Value
Price
Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
Zeon Corp
TSE:4205
2 062.5 JPY
C
China Apex Group Ltd
HKEX:2011
1.48 HKD
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Base Case
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Growth Comparison

Growth Over Time
4205, 2011

4205
2011
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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
Zeon Corp
Revenue
C
China Apex Group Ltd
Revenue

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

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Profitability Comparison

Free Cash Flow
4205, 2011

4205
2011
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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
Zeon Corp
TSE:4205
C
China Apex Group Ltd
HKEX:2011
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What is Free Cash Flow?

Gross Margin

Zeon Corp
28.5%
China Apex Group Ltd
50.6%
LTM 3Y Avg 5Y Avg 10Y Avg
Zeon Corp
C
China Apex Group Ltd

Operating Margin

Zeon Corp
7.7%
China Apex Group Ltd
18.2%
LTM 3Y Avg 5Y Avg 10Y Avg
Zeon Corp
C
China Apex Group Ltd

Net Margin

Zeon Corp
8.3%
China Apex Group Ltd
13%
LTM 3Y Avg 5Y Avg 10Y Avg
Zeon Corp
C
China Apex Group Ltd

FCF Margin

Zeon Corp
7.5%
China Apex Group Ltd
-2.8%
LTM 3Y Avg 5Y Avg 10Y Avg
Zeon Corp
C
China Apex Group Ltd

ROE

Zeon Corp
9.7%
China Apex Group Ltd
28.4%
LTM 3Y Avg 5Y Avg 10Y Avg
Zeon Corp
C
China Apex Group Ltd

ROA

Zeon Corp
6.3%
China Apex Group Ltd
10.9%
LTM 3Y Avg 5Y Avg 10Y Avg
Zeon Corp
C
China Apex Group Ltd

ROIC

Zeon Corp
5.5%
China Apex Group Ltd
15.8%
LTM 3Y Avg 5Y Avg 10Y Avg
Zeon Corp
C
China Apex Group Ltd

ROCE

Zeon Corp
8.5%
China Apex Group Ltd
22.8%
LTM 3Y Avg 5Y Avg 10Y Avg
Zeon Corp
C
China Apex Group Ltd

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
4205, 2011

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Performance Gap
4205, 2011

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4205
2011
Difference
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Performance By Year
4205, 2011

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4205
2011
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