` Comparison: BRM vs NOVN - Alpha Spread

BRM
vs
NOVN

Over the past 12 months, BRM has underperformed NOVN, delivering a return of -8% compared to the NOVN's +31% growth.

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BRM
NOVN
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Valuation Comparison

BRM Intrinsic Value
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NOVN Intrinsic Value
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Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
Bristol-Myers Squibb Co
XHAM:BRM
51.66 EUR
Novartis AG
SIX:NOVN
128.1 CHF
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Valuation Scenario:
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Bull Case

Growth Comparison

Growth Over Time
BRM, NOVN

BRM
NOVN
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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
Bristol-Myers Squibb Co
Revenue
Novartis AG
Revenue

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

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Profitability Comparison

Free Cash Flow
BRM, NOVN

BRM
NOVN
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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
Bristol-Myers Squibb Co
XHAM:BRM
Novartis AG
SIX:NOVN
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What is Free Cash Flow?

Gross Margin

BRM
72.6%
NOVN
75.8%

Operating Margin

BRM
35.8%
NOVN
33.2%

Net Margin

BRM
14.6%
NOVN
24.8%

FCF Margin

BRM
26.7%
NOVN
27.1%

ROE

BRM
40.5%
NOVN
31%

ROA

BRM
7.7%
NOVN
13.1%

ROIC

BRM
17%
NOVN
17.8%

ROCE

BRM
25.5%
NOVN
23.8%

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
BRM, NOVN

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Performance Gap
BRM, NOVN

Performance Gap Between BRM and NOVN
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Performance By Year
BRM, NOVN

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BRM
NOVN
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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