COMP <GO>

AFG vs BNT // EV/EBITDA & P/E VALUATION

American Financial Group Inc. (NYSE) VS. Brookfield Wealth Solutions Ltd. Class A Exchangeable Limited Voting Shares (NYSE) • 15-METRIC TALLY: AFG 4 — BNT 2

■ METRIC PARITY

AFG — American Financial Group Inc. ROARABLE B • RQD 73/100

LAST: $153.87 (+0.50%) • MKT CAP: $12.70B

DES <GO> FA <GO> 10-K RED <GO>

valuation

16.3x

BNT — Brookfield Wealth Solutions Ltd. Class A Exchangeable Limited Voting Shares ROARABLE D • RQD 48/100

LAST: $39.21 (-0.61%) • MKT CAP: $13.33B

DES <GO> FA <GO> 10-K RED <GO>

valuation

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

INSTITUTIONAL METRIC	AFG	BNT	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	—	—	—	TIE	/gross-margins <GO>
Return on Invested Capital (ROIC)	5.70%	—	—	TIE	/roic <GO>
EV/EBITDA & P/E Valuation ACTIVE	16.3x	—	—	TIE	/valuation <GO>
Free Cash Flow Yield	9.18%	19.60%	-10.42	BNT	/fcf-yield <GO>
Operating Margin	13.10%	—	—	TIE	/operating-margins <GO>
Net Profit Margin	10.30%	—	—	TIE	/net-margins <GO>
Revenue Growth (YoY)	-1.80%	-17.50%	+15.70	AFG	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	4.77%	0.00%	+4.77	AFG	/dividend-safety <GO>
Altman Z-Score & Debt/Equity	—	—	—	TIE	/balance-sheet <GO>
Piotroski F-Score Quality	6/9	2/9	+4.00	AFG	/piotroski-score <GO>
Options Implied Move & Put/Call Skew	—	—	—	TIE	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	66.8	64.4	+2.40	AFG	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta	0.98	—	—	TIE	/macro-sensitivity <GO>
Forward P/E Multiple	14.0x	—	—	TIE	/forward-pe <GO>
Enterprise Scale & Market Cap	$12.70B	$13.33B	-$639.4M	BNT	/market-cap <GO>

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

FISCAL YEAR	AFG REV	BNT REV	AFG GROSS %	BNT GROSS %	AFG FCF	BNT FCF
FY 2025	$8.17B	$11.63B	—	—	$1.17B	$2.61B
FY 2024	$8.32B	$14.10B	—	—	$777.4M	$4.57B
FY 2023	$7.83B	$6.91B	—	—	$1.62B	$1.51B

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

AFG // BETA 0.98

BNT // BETA —