` Comparison: PAT vs CAT - Alpha Spread

P
PAT
vs
CAT

Over the past 12 months, PAT has underperformed CAT, delivering a return of -22% compared to the CAT's +98% growth.

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PAT
CAT
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Valuation Comparison

P
PAT Intrinsic Value
3.85 PLN
Undervaluation 18%
Intrinsic Value
Price
CAT Intrinsic Value
368.82 USD
Overvaluation 46%
Intrinsic Value
Price
Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
P
Patentus SA
WSE:PAT
3.14 PLN
Caterpillar Inc
NYSE:CAT
684.54 USD
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Valuation Scenario:
Bear Case
Base Case
Bull Case

Growth Comparison

Growth Over Time
PAT, CAT

PAT
CAT
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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
P
Patentus SA
Revenue
Caterpillar Inc
Revenue

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

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Profitability Comparison

Free Cash Flow
PAT, CAT

PAT
CAT
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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
P
Patentus SA
WSE:PAT
Caterpillar Inc
NYSE:CAT
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What is Free Cash Flow?

Gross Margin

PAT
17.2%
CAT
33.8%
LTM 3Y Avg 5Y Avg 10Y Avg
P
Patentus SA
Caterpillar Inc

Operating Margin

PAT
3.7%
CAT
18.5%
LTM 3Y Avg 5Y Avg 10Y Avg
P
Patentus SA
Caterpillar Inc

Net Margin

PAT
7.4%
CAT
13.1%
LTM 3Y Avg 5Y Avg 10Y Avg
P
Patentus SA
Caterpillar Inc

FCF Margin

PAT
-48.1%
CAT
11%
LTM 3Y Avg 5Y Avg 10Y Avg
P
Patentus SA
Caterpillar Inc

ROE

PAT
5.3%
CAT
43.5%
LTM 3Y Avg 5Y Avg 10Y Avg
P
Patentus SA
Caterpillar Inc

ROA

PAT
4.3%
CAT
9.5%
LTM 3Y Avg 5Y Avg 10Y Avg
P
Patentus SA
Caterpillar Inc

ROIC

PAT
4.6%
CAT
12.4%
LTM 3Y Avg 5Y Avg 10Y Avg
P
Patentus SA
Caterpillar Inc

ROCE

PAT
2.4%
CAT
21.3%
LTM 3Y Avg 5Y Avg 10Y Avg
P
Patentus SA
Caterpillar Inc

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
PAT, CAT

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Performance Gap
PAT, CAT

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PAT
CAT
Difference
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Performance By Year
PAT, CAT

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PAT
CAT
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Compare PAT to other stocks
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Cummins Inc
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600150
China CSSC Holdings Ltd
Cheaper
vs PAT
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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