COMP <GO>

ASH vs V // RETURN ON INVESTED CAPITAL (ROIC)

Ashland Inc. (NYSE) VS. Visa Inc. (NYSE) • 15-METRIC TALLY: ASH 2 — V 4

▲ RETURN ON INVESTED CAPITAL (ROIC) LEADER: V

LAST: $74.38 (+2.35%) • MKT CAP: $3.41B

roic

-20.70%

LAST: $410.54 (+2.48%) • MKT CAP: $733.53B

roic

32.30%

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

INSTITUTIONAL METRIC	ASH	V	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	30.10%	—	—	TIE	/gross-margins <GO>
Return on Invested Capital (ROIC) ACTIVE	-20.70%	32.30%	-53.00	V	/roic <GO>
EV/EBITDA & P/E Valuation	—	28.9x	—	TIE	/valuation <GO>
Free Cash Flow Yield	—	2.90%	—	TIE	/fcf-yield <GO>
Operating Margin	-42.50%	60.00%	-102.50	V	/operating-margins <GO>
Net Profit Margin	—	50.10%	—	TIE	/net-margins <GO>
Revenue Growth (YoY)	-13.70%	11.30%	-25.00	V	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	2.23%	0.63%	+1.60	ASH	/dividend-safety <GO>
Altman Z-Score & Debt/Equity	—	9.09	—	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	66.2	65.6	+0.60	ASH	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta	—	1.06	—	TIE	/macro-sensitivity <GO>
Forward P/E Multiple	—	34.0x	—	TIE	/forward-pe <GO>
Enterprise Scale & Market Cap	$3.41B	$733.53B	-$730.13B	V	/market-cap <GO>

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

FISCAL YEAR	ASH REV	V REV	ASH GROSS %	V GROSS %	ASH FCF	V FCF
FY 2025	$1.82B	$40.00B	30.1%	—	—	$21.26B
FY 2024	$2.11B	$35.93B	29.2%	—	—	$18.33B
FY 2023	$2.19B	$32.65B	—	—	—	$19.29B

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

ASH // BETA —

V // BETA 1.06