` Comparison: IOS vs SHOP - Alpha Spread

I
IOS
vs
SHOP

Over the past 12 months, IOS has underperformed SHOP, delivering a return of -4% compared to the SHOP's +27% growth.

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IOS
SHOP
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Valuation Comparison

I
IOS Intrinsic Value
32.68 EUR
Undervaluation 31%
Intrinsic Value
Price
SHOP Intrinsic Value
53.99 USD
Overvaluation 56%
Intrinsic Value
Price
Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
I
IONOS Group SE
XETRA:IOS
22.55 EUR
Shopify Inc
NASDAQ:SHOP
122.96 USD
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Valuation Scenario:
Bear Case
Base Case
Bull Case

Growth Comparison

Growth Over Time
IOS, SHOP

IOS
SHOP
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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
I
IONOS Group SE
Revenue
Shopify Inc
Revenue

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

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Profitability Comparison

Free Cash Flow
IOS, SHOP

IOS
SHOP
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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
I
IONOS Group SE
XETRA:IOS
Shopify Inc
NASDAQ:SHOP
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What is Free Cash Flow?

Gross Margin

IOS
55.7%
SHOP
48.1%
LTM 3Y Avg 5Y Avg 10Y Avg
I
IONOS Group SE
Shopify Inc

Operating Margin

IOS
25.2%
SHOP
12.8%
LTM 3Y Avg 5Y Avg 10Y Avg
I
IONOS Group SE
Shopify Inc

Net Margin

IOS
16%
SHOP
10.7%
LTM 3Y Avg 5Y Avg 10Y Avg
I
IONOS Group SE
Shopify Inc

FCF Margin

IOS
23.9%
SHOP
17.4%
LTM 3Y Avg 5Y Avg 10Y Avg
I
IONOS Group SE
Shopify Inc

ROE

IOS
122.7%
SHOP
9.8%
LTM 3Y Avg 5Y Avg 10Y Avg
I
IONOS Group SE
Shopify Inc

ROA

IOS
13.9%
SHOP
8.5%
LTM 3Y Avg 5Y Avg 10Y Avg
I
IONOS Group SE
Shopify Inc

ROIC

IOS
16%
SHOP
15.1%
LTM 3Y Avg 5Y Avg 10Y Avg
I
IONOS Group SE
Shopify Inc

ROCE

IOS
28.1%
SHOP
11.5%
LTM 3Y Avg 5Y Avg 10Y Avg
I
IONOS Group SE
Shopify Inc

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
IOS, SHOP

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Performance Gap
IOS, SHOP

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IOS
SHOP
Difference
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Performance By Year
IOS, SHOP

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IOS
SHOP
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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