` Comparison: X, 388 - Alpha Spread

X
vs
388

Over the past 12 months, X has underperformed Hong Kong Exchanges and Clearing Ltd, delivering a return of +16% compared to the Hong Kong Exchanges and Clearing Ltd's +35% growth.

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X
388
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X 388
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Valuation Comparison

X Intrinsic Value
37.66 CAD
Overvaluation 27%
Intrinsic Value
Price
Intrinsic Value
346.09 HKD
Overvaluation 14%
Intrinsic Value
Price
Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
TMX Group Ltd
TSX:X
51.43 CAD
Hong Kong Exchanges and Clearing Ltd
HKEX:388
401.8 HKD
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Growth Comparison

Growth Over Time
X, 388

X
388
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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
TMX Group Ltd
Revenue
Hong Kong Exchanges and Clearing Ltd
Revenue

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

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Profitability Comparison

Free Cash Flow
X, 388

X
388
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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
TMX Group Ltd
TSX:X
Hong Kong Exchanges and Clearing Ltd
HKEX:388
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What is Free Cash Flow?

Gross Margin

X
57.5%
Hong Kong Exchanges and Clearing Ltd
0%

Operating Margin

X
26%
Hong Kong Exchanges and Clearing Ltd
63.2%

Net Margin

X
16%
Hong Kong Exchanges and Clearing Ltd
76%

FCF Margin

X
22.2%
Hong Kong Exchanges and Clearing Ltd
84.5%

ROE

X
10.1%
Hong Kong Exchanges and Clearing Ltd
28.2%

ROA

X
0.9%
Hong Kong Exchanges and Clearing Ltd
3.8%

ROIC

X
1.1%
Hong Kong Exchanges and Clearing Ltd
9.9%

ROCE

X
9.9%
Hong Kong Exchanges and Clearing Ltd
22.1%

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
X, 388

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X
388
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Performance Gap
X, 388

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X
388
Difference
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1Y 3Y 5Y 10Y 15Y 20Y

Performance By Year
X, 388

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388
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