` Comparison: HSG vs VALE3 - Alpha Spread

H
HSG
vs
VALE3

Over the past 12 months, HSG has underperformed VALE3, delivering a return of -26% compared to the VALE3's +47% growth.

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HSG
VALE3
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Valuation Comparison

HSG Intrinsic Value
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VALE3 Intrinsic Value
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Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
H
Hoa Sen Group
VN:HSG
13 800 VND
Vale SA
BOVESPA:VALE3
79.57 BRL
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Valuation Scenario:
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Base Case
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Growth Comparison

Growth Over Time
HSG, VALE3

HSG
VALE3
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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
H
Hoa Sen Group
Revenue
Vale SA
Revenue

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

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Profitability Comparison

Free Cash Flow
HSG, VALE3

HSG
VALE3
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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
H
Hoa Sen Group
VN:HSG
Vale SA
BOVESPA:VALE3
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What is Free Cash Flow?

Gross Margin

HSG
12.3%
VALE3
35%
LTM 3Y Avg 5Y Avg 10Y Avg
H
Hoa Sen Group
Vale SA

Operating Margin

HSG
1.9%
VALE3
28.4%
LTM 3Y Avg 5Y Avg 10Y Avg
H
Hoa Sen Group
Vale SA

Net Margin

HSG
1.7%
VALE3
6.5%
LTM 3Y Avg 5Y Avg 10Y Avg
H
Hoa Sen Group
Vale SA

FCF Margin

HSG
-0.3%
VALE3
7.2%
LTM 3Y Avg 5Y Avg 10Y Avg
H
Hoa Sen Group
Vale SA

ROE

HSG
5.4%
VALE3
7.1%
LTM 3Y Avg 5Y Avg 10Y Avg
H
Hoa Sen Group
Vale SA

ROA

HSG
2.9%
VALE3
2.8%
LTM 3Y Avg 5Y Avg 10Y Avg
H
Hoa Sen Group
Vale SA

ROIC

HSG
3.2%
VALE3
6.4%
LTM 3Y Avg 5Y Avg 10Y Avg
H
Hoa Sen Group
Vale SA

ROCE

HSG
5.7%
VALE3
15.1%
LTM 3Y Avg 5Y Avg 10Y Avg
H
Hoa Sen Group
Vale SA

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
HSG, VALE3

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Performance Gap
HSG, VALE3

Performance Gap Between HSG and VALE3
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Performance By Year
HSG, VALE3

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HSG
VALE3
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Intrinsic Value is all-important and is the only logical way to evaluate the relative attractiveness of investments and businesses.

Warren Buffett