` Comparison: VGS vs FMG - Alpha Spread

V
VGS
vs
FMG

Over the past 12 months, VGS has underperformed FMG, delivering a return of -5% compared to the FMG's +22% growth.

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VGS
FMG
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Valuation Comparison

VGS Intrinsic Value
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FMG Intrinsic Value
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Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
V
Vietnam Germany Steel Pipe JSC
VN:VGS
27 200 VND
Fortescue Metals Group Ltd
ASX:FMG
19.655 AUD
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Valuation Scenario:
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Base Case
Bull Case

Growth Comparison

Growth Over Time
VGS, FMG

VGS
FMG
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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
V
Vietnam Germany Steel Pipe JSC
Revenue
Fortescue Metals Group Ltd
Revenue

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

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Profitability Comparison

Free Cash Flow
VGS, FMG

VGS
FMG
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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
V
Vietnam Germany Steel Pipe JSC
VN:VGS
Fortescue Metals Group Ltd
ASX:FMG
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What is Free Cash Flow?

Gross Margin

VGS
3.6%
FMG
41.9%

Operating Margin

VGS
2.4%
FMG
34.6%

Net Margin

VGS
2.1%
FMG
22.8%

FCF Margin

VGS
4.6%
FMG
23.7%

ROE

VGS
14.1%
FMG
18.7%

ROA

VGS
6.2%
FMG
12.3%

ROIC

VGS
9.1%
FMG
15.4%

ROCE

VGS
14%
FMG
20.2%

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
VGS, FMG

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Performance Gap
VGS, FMG

Performance Gap Between VGS and FMG
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Performance By Year
VGS, FMG

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VGS
FMG
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Compare VGS to other stocks
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FVJ
Fortescue Ltd
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More expensive
vs VGS
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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