` Comparison: DEFN vs AMS - Alpha Spread

DEFN
vs
A
AMS

Over the past 12 months, DEFN has underperformed AMS, delivering a return of +37% compared to the AMS's +43% growth.

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DEFN
AMS
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Valuation Comparison

DEFN Intrinsic Value
0.01 CAD
Overvaluation 97%
Intrinsic Value
Price
A
AMS Intrinsic Value
40 454.03 Zac
Overvaluation 53%
Intrinsic Value
Price
Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
Defense Metals Corp
XTSX:DEFN
0.24 CAD
A
Anglo American Platinum Ltd
JSE:AMS
85 237 Zac
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Valuation Scenario:
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Base Case
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Growth Comparison

Growth Over Time
DEFN, AMS

DEFN
AMS
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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
Defense Metals Corp
Revenue
A
Anglo American Platinum Ltd
Revenue

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

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Profitability Comparison

Free Cash Flow
DEFN, AMS

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AMS
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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
Defense Metals Corp
XTSX:DEFN
A
Anglo American Platinum Ltd
JSE:AMS
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What is Free Cash Flow?

Gross Margin

DEFN
0%
AMS
16.7%

Operating Margin

DEFN
0%
AMS
14.7%

Net Margin

DEFN
0%
AMS
6.5%

FCF Margin

DEFN
0%
AMS
7.2%

ROE

DEFN
-11.7%
AMS
7%

ROA

DEFN
-10.8%
AMS
4.2%

ROIC

DEFN
-10.2%
AMS
9.5%

ROCE

DEFN
-9.9%
AMS
12.9%

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
DEFN, AMS

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Performance Gap
DEFN, AMS

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DEFN
AMS
Difference
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Performance By Year
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DEFN
AMS
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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