` Comparison: SFC, 1299 - Alpha Spread

SFC
vs
1299

Over the past 12 months, SFC has underperformed AIA Group Ltd, delivering a return of +48% compared to the AIA Group Ltd's +48% growth.

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SFC
1299
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Valuation Comparison

SFC Intrinsic Value
9.36 CAD
Undervaluation 2%
Intrinsic Value
Price
Intrinsic Value
93.93 HKD
Undervaluation 14%
Intrinsic Value
Price
Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
Alignvest Acquisition II Corp
TSX:SFC
9.13 CAD
AIA Group Ltd
HKEX:1299
81 HKD
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Valuation Scenario:
Bear Case
Base Case
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Growth Comparison

Growth Over Time
SFC, 1299

SFC
1299
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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
Alignvest Acquisition II Corp
Revenue
AIA Group Ltd
Revenue

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

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Profitability Comparison

Free Cash Flow
SFC, 1299

SFC
1299
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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
Alignvest Acquisition II Corp
TSX:SFC
FCF is not applicable for financial companies
AIA Group Ltd
HKEX:1299
FCF is not applicable for financial companies
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What is Free Cash Flow?

Gross Margin

SFC
AIA Group Ltd
LTM 3Y Avg 5Y Avg 10Y Avg
Alignvest Acquisition II Corp
Not applicable for financial companies
AIA Group Ltd
Not applicable for financial companies

Operating Margin

SFC
AIA Group Ltd
LTM 3Y Avg 5Y Avg 10Y Avg
Alignvest Acquisition II Corp
Not applicable for financial companies
AIA Group Ltd
Not applicable for financial companies

Net Margin

SFC
8.2%
AIA Group Ltd
23.5%

FCF Margin

SFC
AIA Group Ltd
LTM 3Y Avg 5Y Avg 10Y Avg
Alignvest Acquisition II Corp
Not applicable for financial companies
AIA Group Ltd
Not applicable for financial companies

ROE

SFC
13.4%
AIA Group Ltd
15.2%

ROA

SFC
0.6%
AIA Group Ltd
2%

ROIC

SFC
AIA Group Ltd
LTM 3Y Avg 5Y Avg 10Y Avg
Alignvest Acquisition II Corp
Not applicable for financial companies
AIA Group Ltd
Not applicable for financial companies

ROCE

SFC
AIA Group Ltd
LTM 3Y Avg 5Y Avg 10Y Avg
Alignvest Acquisition II Corp
Not applicable for financial companies
AIA Group Ltd
Not applicable for financial companies

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
SFC, 1299

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Performance Gap
SFC, 1299

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SFC
1299
Difference
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Performance By Year
SFC, 1299

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SFC
1299
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