` Comparison: RAT vs HOLN - Alpha Spread

R
RAT
vs
HOLN

Over the past 12 months, RAT has underperformed HOLN, delivering a return of +4% compared to the HOLN's +62% growth.

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RAT
HOLN
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Valuation Comparison

R
RAT Intrinsic Value
30.97 EUR
Undervaluation 19%
Intrinsic Value
Price
HOLN Intrinsic Value
117.19 CHF
Undervaluation 35%
Intrinsic Value
Price
Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
R
Rath AG
VSE:RAT
25 EUR
Holcim AG
SIX:HOLN
75.82 CHF
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Valuation Scenario:
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Base Case
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Growth Comparison

Growth Over Time
RAT, HOLN

RAT
HOLN
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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
R
Rath AG
Revenue
Holcim AG
Revenue

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

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Profitability Comparison

Free Cash Flow
RAT, HOLN

RAT
HOLN
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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
R
Rath AG
VSE:RAT
Holcim AG
SIX:HOLN
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What is Free Cash Flow?

Gross Margin

RAT
53.6%
HOLN
44.7%
LTM 3Y Avg 5Y Avg 10Y Avg
R
Rath AG
Holcim AG

Operating Margin

RAT
-2.1%
HOLN
17.3%
LTM 3Y Avg 5Y Avg 10Y Avg
R
Rath AG
Holcim AG

Net Margin

RAT
-5.1%
HOLN
71.8%
LTM 3Y Avg 5Y Avg 10Y Avg
R
Rath AG
Holcim AG

FCF Margin

RAT
-1.1%
HOLN
17.1%
LTM 3Y Avg 5Y Avg 10Y Avg
R
Rath AG
Holcim AG

ROE

RAT
-9.8%
HOLN
75.4%
LTM 3Y Avg 5Y Avg 10Y Avg
R
Rath AG
Holcim AG

ROA

RAT
-4.1%
HOLN
35.7%
LTM 3Y Avg 5Y Avg 10Y Avg
R
Rath AG
Holcim AG

ROIC

RAT
-2%
HOLN
7.9%
LTM 3Y Avg 5Y Avg 10Y Avg
R
Rath AG
Holcim AG

ROCE

RAT
-2.1%
HOLN
10.5%
LTM 3Y Avg 5Y Avg 10Y Avg
R
Rath AG
Holcim AG

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
RAT, HOLN

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Performance Gap
RAT, HOLN

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RAT
HOLN
Difference
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Performance By Year
RAT, HOLN

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RAT
HOLN
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