` Comparison: IQ3 vs SHOP - Alpha Spread

G
IQ3
vs
SHOP

Over the past 12 months, IQ3 has underperformed SHOP, delivering a return of -22% compared to the SHOP's +19% growth.

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IQ3
SHOP
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Valuation Comparison

G
IQ3 Intrinsic Value
14.99 EUR
Overvaluation 2%
Intrinsic Value
Price
SHOP Intrinsic Value
58.76 USD
Overvaluation 49%
Intrinsic Value
Price
Company Last Price Intrinsic Value DCF Value Multiples-Based Value Wall St Target
G
GMO Internet Group Inc
XMUN:IQ3
15.3 EUR
Shopify Inc
NASDAQ:SHOP
115.43 USD
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Valuation Scenario:
Bear Case
Base Case
Bull Case

Growth Comparison

Growth Over Time
IQ3, SHOP

IQ3
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
G
GMO Internet Group Inc
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
IQ3, SHOP

IQ3
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
G
GMO Internet Group Inc
XMUN:IQ3
Shopify Inc
NASDAQ:SHOP
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What is Free Cash Flow?

Gross Margin

IQ3
59.4%
SHOP
48.1%
LTM 3Y Avg 5Y Avg 10Y Avg
G
GMO Internet Group Inc
Shopify Inc

Operating Margin

IQ3
20%
SHOP
12.8%
LTM 3Y Avg 5Y Avg 10Y Avg
G
GMO Internet Group Inc
Shopify Inc

Net Margin

IQ3
5.6%
SHOP
10.7%
LTM 3Y Avg 5Y Avg 10Y Avg
G
GMO Internet Group Inc
Shopify Inc

FCF Margin

IQ3
19.7%
SHOP
17.4%
LTM 3Y Avg 5Y Avg 10Y Avg
G
GMO Internet Group Inc
Shopify Inc

ROE

IQ3
17.1%
SHOP
9.8%
LTM 3Y Avg 5Y Avg 10Y Avg
G
GMO Internet Group Inc
Shopify Inc

ROA

IQ3
0.7%
SHOP
8.5%
LTM 3Y Avg 5Y Avg 10Y Avg
G
GMO Internet Group Inc
Shopify Inc

ROIC

IQ3
3%
SHOP
15.1%
LTM 3Y Avg 5Y Avg 10Y Avg
G
GMO Internet Group Inc
Shopify Inc

ROCE

IQ3
10.7%
SHOP
11.5%
LTM 3Y Avg 5Y Avg 10Y Avg
G
GMO Internet Group Inc
Shopify Inc

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
IQ3, SHOP

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Performance Gap
IQ3, SHOP

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IQ3
SHOP
Difference
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Performance By Year
IQ3, SHOP

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IQ3
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