` Comparison: PNP, BLK - Alpha Spread

PNP
vs
BLK

Over the past 12 months, PNP has outperformed BLK, delivering a return of +12% compared to the BLK's +5% growth.

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PNP
BLK
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Valuation Comparison

PNP Intrinsic Value
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BLK Intrinsic Value
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Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
Pinetree Capital Ltd
TSX:PNP
11.08 CAD
BlackRock Inc
NYSE:BLK
1 087.84 USD
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Valuation Scenario:
Bear Case
Base Case
Bull Case

Growth Comparison

Growth Over Time
PNP, BLK

PNP
BLK
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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
Pinetree Capital Ltd
Revenue
BlackRock Inc
Revenue

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

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Profitability Comparison

Free Cash Flow
PNP, BLK

PNP
BLK
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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
Pinetree Capital Ltd
TSX:PNP
BlackRock Inc
NYSE:BLK
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What is Free Cash Flow?

Gross Margin

PNP
0%
BLK
81.5%
LTM 3Y Avg 5Y Avg 10Y Avg
Pinetree Capital Ltd
BlackRock Inc

Operating Margin

PNP
94.7%
BLK
33.3%
LTM 3Y Avg 5Y Avg 10Y Avg
Pinetree Capital Ltd
BlackRock Inc

Net Margin

PNP
93.2%
BLK
26.6%
LTM 3Y Avg 5Y Avg 10Y Avg
Pinetree Capital Ltd
BlackRock Inc

FCF Margin

PNP
15.7%
BLK
17.2%
LTM 3Y Avg 5Y Avg 10Y Avg
Pinetree Capital Ltd
BlackRock Inc

ROE

PNP
38%
BLK
12.6%
LTM 3Y Avg 5Y Avg 10Y Avg
Pinetree Capital Ltd
BlackRock Inc

ROA

PNP
37.6%
BLK
4.1%
LTM 3Y Avg 5Y Avg 10Y Avg
Pinetree Capital Ltd
BlackRock Inc

ROIC

PNP
41.7%
BLK
4.5%
LTM 3Y Avg 5Y Avg 10Y Avg
Pinetree Capital Ltd
BlackRock Inc

ROCE

PNP
38.7%
BLK
5.4%
LTM 3Y Avg 5Y Avg 10Y Avg
Pinetree Capital Ltd
BlackRock Inc

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
PNP, BLK

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Performance Gap
PNP, BLK

Performance Gap Between PNP and BLK
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Performance By Year
PNP, BLK

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PNP
BLK
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