COMP <GO>

AFYA vs EDU // RETURN ON INVESTED CAPITAL (ROIC)

Afya Limited (Class A) (NASDAQ) VS. New Oriental Education & Technology Group Inc. Sponsored ADR representing 10 Ordinary Share (Cayman Islands) (NYSE) • 15-METRIC TALLY: AFYA 1 — EDU 2

■ METRIC PARITY

AFYA — Afya Limited (Class A) ROARABLE D+ • RQD 58/100

LAST: $10.17 (-0.68%) • MKT CAP: $953.2M

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

roic

—

EDU — New Oriental Education & Technology Group Inc. Sponsored ADR representing 10 Ordinary Share (Cayman Islands) ROARABLE B- • RQD 70/100

LAST: $49.09 (-3.21%) • MKT CAP: $7.61B

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

roic

21.30%

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

INSTITUTIONAL METRIC	AFYA	EDU	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	—	54.60%	—	TIE	/gross-margins <GO>
Return on Invested Capital (ROIC) ACTIVE	—	21.30%	—	TIE	/roic <GO>
EV/EBITDA & P/E Valuation	—	9.3x	—	TIE	/valuation <GO>
Free Cash Flow Yield	—	10.25%	—	TIE	/fcf-yield <GO>
Operating Margin	—	11.40%	—	TIE	/operating-margins <GO>
Net Profit Margin	—	8.40%	—	TIE	/net-margins <GO>
Revenue Growth (YoY)	—	15.50%	—	TIE	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	0.00%	1.27%	-1.27	EDU	/dividend-safety <GO>
Altman Z-Score & Debt/Equity	—	4.92	—	TIE	/balance-sheet <GO>
Piotroski F-Score Quality	—	9/9	—	TIE	/piotroski-score <GO>
Options Implied Move & Put/Call Skew	—	—	—	TIE	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	28.7	26.9	+1.81	AFYA	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta	—	0.96	—	TIE	/macro-sensitivity <GO>
Forward P/E Multiple	—	13.4x	—	TIE	/forward-pe <GO>
Enterprise Scale & Market Cap	$953.2M	$7.61B	-$6.66B	EDU	/market-cap <GO>

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

FISCAL YEAR	AFYA REV	EDU REV	AFYA GROSS %	EDU GROSS %	AFYA FCF	EDU FCF
FY 2025	—	$5.66B	—	54.6%	—	$780.2M
FY 2024	—	$4.90B	—	55.4%	—	$654.7M
FY 2023	—	$4.31B	—	—	—	$928.5M

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

AFYA // BETA —

EDU // BETA 0.96