COMP <GO>

AAME vs CIA // EV/EBITDA & P/E VALUATION

Atlantic American Corporation (NASDAQ) VS. Citizens Inc. ($1.00 Par) (Class A) (NYSE) • 15-METRIC TALLY: AAME 3 — CIA 2

■ METRIC PARITY

LAST: $1.13 (-0.88%) • MKT CAP: $23.0M

valuation

2.8x

LAST: $3.86 (+1.58%) • MKT CAP: $195.5M

valuation

—

15-METRIC INSTITUTIONAL SIDE-BY-SIDE SCORECARD (AAME VS. CIA) EMERALD CELL = QUANTITATIVE EDGE

INSTITUTIONAL METRIC	AAME	CIA	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	—	—	—	TIE	/gross-margins <GO>
Return on Invested Capital (ROIC)	3.80%	—	—	TIE	/roic <GO>
EV/EBITDA & P/E Valuation ACTIVE	2.8x	—	—	TIE	/valuation <GO>
Free Cash Flow Yield	—	8.97%	—	TIE	/fcf-yield <GO>
Operating Margin	1.80%	—	—	TIE	/operating-margins <GO>
Net Profit Margin	2.90%	—	—	TIE	/net-margins <GO>
Revenue Growth (YoY)	11.90%	4.30%	+7.60	AAME	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	1.77%	0.00%	+1.77	AAME	/dividend-safety <GO>
Altman Z-Score & Debt/Equity	—	—	—	TIE	/balance-sheet <GO>
Piotroski F-Score Quality	6/9	3/9	+3.00	AAME	/piotroski-score <GO>
Options Implied Move & Put/Call Skew	—	—	—	TIE	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	40.0	50.1	-10.09	CIA	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta	—	—	—	TIE	/macro-sensitivity <GO>
Forward P/E Multiple	3.5x	—	—	TIE	/forward-pe <GO>
Enterprise Scale & Market Cap	$23.0M	$195.5M	-$172.4M	CIA	/market-cap <GO>

5-YEAR HISTORICAL XBRL REVENUE & MARGIN TRAJECTORY SEC FORM 10-K FY

FISCAL YEAR	AAME REV	CIA REV	AAME GROSS %	CIA GROSS %	AAME FCF	CIA FCF
FY 2025	$210.4M	$255.6M	—	—	$32.4M	$17.5M
FY 2024	$188.1M	$245.0M	—	—	$4.6M	$31.3M
FY 2023	$186.8M	$240.7M	—	—	$2.6M	$22.1M

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

AAME // BETA —

CIA // BETA —