` Comparison: NEXT, RIO - Alpha Spread

NEXT
vs
RIO

Over the past 12 months, NEXT has underperformed RIO, delivering a return of -33% compared to the RIO's +14% growth.

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NEXT
RIO
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Valuation Comparison

NEXT Intrinsic Value
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RIO Intrinsic Value
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Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
NextSource Materials Inc
TSX:NEXT
0.425 CAD
Rio Tinto PLC
LSE:RIO
5 679 GBX
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Valuation Scenario:
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Base Case
Bull Case

Growth Comparison

Growth Over Time
NEXT, RIO

NEXT
RIO
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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
NextSource Materials Inc
Revenue
Rio Tinto PLC
Revenue

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

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Profitability Comparison

Free Cash Flow
NEXT, RIO

NEXT
RIO
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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
NextSource Materials Inc
TSX:NEXT
Rio Tinto PLC
LSE:RIO
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What is Free Cash Flow?

Gross Margin

NEXT
-216.9%
RIO
0%

Operating Margin

NEXT
-1 012.6%
RIO
25.8%

Net Margin

NEXT
-2 435.3%
RIO
19.1%

FCF Margin

NEXT
-2 486.8%
RIO
9.6%

ROE

NEXT
-66.7%
RIO
18.1%

ROA

NEXT
-31.4%
RIO
9.2%

ROIC

NEXT
-14.4%
RIO
9.7%

ROCE

NEXT
-17.5%
RIO
14.1%

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
NEXT, RIO

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Performance Gap
NEXT, RIO

Performance Gap Between NEXT and RIO
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Performance By Year
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