COMP <GO>

ARR vs RLJ // EV/EBITDA & P/E VALUATION

ARMOUR Residential REIT Inc. (NYSE) VS. RLJ Lodging Trust of $0.01 par value (NYSE) • 15-METRIC TALLY: ARR 2 — RLJ 4

■ METRIC PARITY

LAST: $12.79 (+0.95%) • MKT CAP: $1.90B

valuation

—

LAST: $12.71 (+1.68%) • MKT CAP: $1.94B

valuation

—

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

INSTITUTIONAL METRIC	ARR	RLJ	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	—	—	—	TIE	/gross-margins <GO>
Return on Invested Capital (ROIC)	14.30%	1.30%	+13.00	ARR	/roic <GO>
EV/EBITDA & P/E Valuation ACTIVE	—	—	—	TIE	/valuation <GO>
Free Cash Flow Yield	6.54%	12.59%	-6.05	RLJ	/fcf-yield <GO>
Operating Margin	—	—	—	TIE	/operating-margins <GO>
Net Profit Margin	—	2.10%	—	TIE	/net-margins <GO>
Revenue Growth (YoY)	—	-1.40%	—	TIE	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	0.00%	4.72%	-4.72	RLJ	/dividend-safety <GO>
Altman Z-Score & Debt/Equity	—	—	—	TIE	/balance-sheet <GO>
Piotroski F-Score Quality	4/9	4/9	0.00	TIE	/piotroski-score <GO>
Options Implied Move & Put/Call Skew	—	—	—	TIE	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	31.0	72.4	-41.38	RLJ	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta	—	—	—	TIE	/macro-sensitivity <GO>
Forward P/E Multiple	5.5x	63.1x	-57.60	ARR	/forward-pe <GO>
Enterprise Scale & Market Cap	$1.90B	$1.94B	-$38.5M	RLJ	/market-cap <GO>

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

FISCAL YEAR	ARR REV	RLJ REV	ARR GROSS %	RLJ GROSS %	ARR FCF	RLJ FCF
FY 2025	$0	$1.35B	—	—	$124.2M	$243.8M
FY 2024	$0	$1.37B	—	—	$261.5M	$285.4M
FY 2023	$0	$1.33B	—	—	$132.8M	$315.1M

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

ARR // BETA —

RLJ // BETA —