` Comparison: THB vs HEIA - Alpha Spread
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T
THB
vs
HEIA

Over the past 12 months, THB has underperformed HEIA, delivering a return of -1% compared to the HEIA's +0% growth.

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THB
HEIA
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THB HEIA
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Valuation Comparison

THB Intrinsic Value
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HEIA Intrinsic Value
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Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
T
Thanh Hoa Beer JSC
VN:THB
10 800 VND
Heineken NV
AEX:HEIA
77.92 EUR
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Valuation Scenario:
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Growth Comparison

Growth Over Time
THB, HEIA

THB
HEIA
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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
T
Thanh Hoa Beer JSC
Revenue
Heineken NV
Revenue

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

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Profitability Comparison

Free Cash Flow
THB, HEIA

THB
HEIA
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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
T
Thanh Hoa Beer JSC
VN:THB
Heineken NV
AEX:HEIA
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What is Free Cash Flow?

Gross Margin

THB
6.8%
HEIA
20.2%
LTM 3Y Avg 5Y Avg 10Y Avg
T
Thanh Hoa Beer JSC
Heineken NV

Operating Margin

THB
-4.2%
HEIA
13.6%
LTM 3Y Avg 5Y Avg 10Y Avg
T
Thanh Hoa Beer JSC
Heineken NV

Net Margin

THB
0.2%
HEIA
6.2%
LTM 3Y Avg 5Y Avg 10Y Avg
T
Thanh Hoa Beer JSC
Heineken NV

FCF Margin

THB
-1.3%
HEIA
9.2%
LTM 3Y Avg 5Y Avg 10Y Avg
T
Thanh Hoa Beer JSC
Heineken NV

ROE

THB
2.2%
HEIA
9.8%
LTM 3Y Avg 5Y Avg 10Y Avg
T
Thanh Hoa Beer JSC
Heineken NV

ROA

THB
1%
HEIA
3.4%
LTM 3Y Avg 5Y Avg 10Y Avg
T
Thanh Hoa Beer JSC
Heineken NV

ROIC

THB
-21.9%
HEIA
6.8%
LTM 3Y Avg 5Y Avg 10Y Avg
T
Thanh Hoa Beer JSC
Heineken NV

ROCE

THB
-45.9%
HEIA
10.4%
LTM 3Y Avg 5Y Avg 10Y Avg
T
Thanh Hoa Beer JSC
Heineken NV

Solvency Comparison

T
Thanh Hoa Beer JSC
Equity Waterfall
Assets
Liabilities
Equity
What is Equity Waterfall?
Heineken NV
Equity Waterfall
Assets
Liabilities
Equity
What is Equity Waterfall?
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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
THB, HEIA

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THB
HEIA
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Performance Gap
THB, HEIA

Performance Gap Between THB and HEIA
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Performance By Year
THB, HEIA

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THB
HEIA
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Compare THB to other stocks
1NBA
Anheuser Busch Inbev SA
ABI
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ABEV3
Ambev SA
HEIO
Heineken Holding NV
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