` Comparison: IBM vs AAPL - Alpha Spread

IBM
vs
AAPL

Over the past 12 months, IBM has underperformed AAPL, delivering a return of +2% compared to the AAPL's +19% growth.

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IBM
AAPL
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Valuation Comparison

IBM Intrinsic Value
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AAPL Intrinsic Value
168.04 USD
Overvaluation 39%
Intrinsic Value
Price
Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
International Business Machines Corp
XBER:IBM
259.25 EUR
Apple Inc
NASDAQ:AAPL
276.95 USD
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Valuation Scenario:
Bear Case
Base Case
Bull Case

Growth Comparison

Growth Over Time
IBM, AAPL

IBM
AAPL
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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
International Business Machines Corp
Revenue
Apple Inc
Revenue

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

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Profitability Comparison

Free Cash Flow
IBM, AAPL

IBM
AAPL
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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
International Business Machines Corp
XBER:IBM
Apple Inc
NASDAQ:AAPL
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What is Free Cash Flow?

Gross Margin

IBM
58.2%
AAPL
47.3%

Operating Margin

IBM
15.9%
AAPL
32.4%

Net Margin

IBM
15.7%
AAPL
27%

FCF Margin

IBM
17.1%
AAPL
28.3%

ROE

IBM
35.3%
AAPL
162.3%

ROA

IBM
7.3%
AAPL
31.6%

ROIC

IBM
9.7%
AAPL
49.6%

ROCE

IBM
9.9%
AAPL
69.6%

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
IBM, AAPL

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Performance Gap
IBM, AAPL

Performance Gap Between IBM and AAPL
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Performance By Year
IBM, AAPL

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IBM
AAPL
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