` Comparison: TCN, VNA - Alpha Spread

TCN
vs
VNA

Over the past 12 months, TCN has underperformed VNA, delivering a return of 0% compared to the VNA's 3% drop.

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TCN
VNA
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One-click summary across all key metrics.
Ranked results with clear takeaways.
No spreadsheets, no guesswork.
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Valuation
Growth
Profitability
Solvency
Comparing Valuation
Running a multi-layered valuation analysis to compare how attractive each stock is.
Comparing Growth
Financial growth, forecasts, volatility, and historical drawdowns.
Comparing Profitability
Margins, returns on capital, and the consistency of profitability.
Comparing Solvency
Debt levels, liquidity, interest coverage, and bankruptcy risk.
Summarizing...
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Valuation Comparison

TCN Intrinsic Value
19.62 CAD
Undervaluation 22%
Intrinsic Value
Price
VNA Intrinsic Value
45.04 EUR
Undervaluation 39%
Intrinsic Value
Price
Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
Tricon Residential Inc
TSX:TCN
15.34 CAD
Vonovia SE
XETRA:VNA
27.41 EUR
Valuation Scenario:
Bear Case
Base Case
Bull Case

Growth Comparison

Growth Over Time
TCN, VNA

TCN
VNA
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Revenue
www.alphaspread.com
Company LTM Historical Growth Growth Streak % Positive Years Max Drawdown Volatility Forecasted Growth
3 Years 5 Years 10 Years 1 Year 3 Years
Tricon Residential Inc
Revenue
Vonovia SE
Revenue

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

Profitability Comparison

Free Cash Flow
TCN, VNA

TCN
VNA
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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
Tricon Residential Inc
TSX:TCN
Vonovia SE
XETRA:VNA
What is Free Cash Flow?

Gross Margin

TCN
69.2%
VNA
67.2%
LTM 3Y Avg 5Y Avg 10Y Avg
Tricon Residential Inc
Vonovia SE

Operating Margin

TCN
28.4%
VNA
44.5%
LTM 3Y Avg 5Y Avg 10Y Avg
Tricon Residential Inc
Vonovia SE

Net Margin

TCN
13.4%
VNA
-13.5%
LTM 3Y Avg 5Y Avg 10Y Avg
Tricon Residential Inc
Vonovia SE

FCF Margin

TCN
10.8%
VNA
39.1%
LTM 3Y Avg 5Y Avg 10Y Avg
Tricon Residential Inc
Vonovia SE

ROE

TCN
3%
VNA
-2.8%
LTM 3Y Avg 5Y Avg 10Y Avg
Tricon Residential Inc
Vonovia SE

ROA

TCN
0.9%
VNA
-0.8%
LTM 3Y Avg 5Y Avg 10Y Avg
Tricon Residential Inc
Vonovia SE

ROIC

TCN
1.6%
VNA
3.2%
LTM 3Y Avg 5Y Avg 10Y Avg
Tricon Residential Inc
Vonovia SE

ROCE

TCN
2%
VNA
2.8%
LTM 3Y Avg 5Y Avg 10Y Avg
Tricon Residential Inc
Vonovia SE

Solvency Comparison

Balance Sheet Comparison

Stocks Performance

Stocks Performance
TCN, VNA

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Performance Gap
TCN, VNA

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TCN
VNA
Difference
www.alphaspread.com

Performance By Year
TCN, VNA

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TCN
VNA
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