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AROW vs WASH // GROSS PROFIT MARGIN

Arrow Financial Corporation (NASDAQ) VS. Washington Trust Bancorp Inc. (NASDAQ) • 15-METRIC TALLY: AROW 2 — WASH 5
■ METRIC PARITY
15-METRIC INSTITUTIONAL SIDE-BY-SIDE SCORECARD (AROW VS. WASH) EMERALD CELL = QUANTITATIVE EDGE
INSTITUTIONAL METRIC AROW WASH SPREAD (A - B) ADVANTAGE DEDICATED URL
Gross Profit Margin ACTIVE — — — TIE /gross-margins <GO>
Return on Invested Capital (ROIC) 10.20% 9.60% +0.60 AROW /roic <GO>
EV/EBITDA & P/E Valuation — — — TIE /valuation <GO>
Free Cash Flow Yield 5.05% 10.45% -5.40 WASH /fcf-yield <GO>
Operating Margin — — — TIE /operating-margins <GO>
Net Profit Margin — 68.00% — TIE /net-margins <GO>
Revenue Growth (YoY) — 19.70% — TIE /revenue-growth <GO>
Dividend Yield & FCF Payout Safety 0.00% 5.78% -5.78 WASH /dividend-safety <GO>
Altman Z-Score & Debt/Equity — — — TIE /balance-sheet <GO>
Piotroski F-Score Quality 4/9 6/9 -2.00 WASH /piotroski-score <GO>
Options Implied Move & Put/Call Skew — — — TIE /options-implied-move <GO>
RSI-14 & 200D SMA Momentum 58.9 58.0 +0.90 AROW /rsi-technicals <GO>
10Y Yield & FRED Macro Beta — — — TIE /macro-sensitivity <GO>
Forward P/E Multiple 15.2x 12.0x +3.20 WASH /forward-pe <GO>
Enterprise Scale & Market Cap $716.2M $749.6M -$33.4M WASH /market-cap <GO>
5-YEAR HISTORICAL XBRL REVENUE & MARGIN TRAJECTORY SEC FORM 10-K FY
FISCAL YEAR AROW REV WASH REV AROW GROSS % WASH GROSS % AROW FCF WASH FCF
FY 2025 $0 $57.7M — — $36.2M $78.3M
FY 2024 $0 $48.2M — — $28.9M $53.7M
FY 2023 $0 $44.5M — — $20.6M $31.6M
FRED MACRO REGIME CORRELATION COMPARISON PEARSON r
AROW // BETA —
WASH // BETA —