COMP <GO>

ASIC vs V // 10Y YIELD & FRED MACRO BETA

Ategrity Specialty Insurance Company Holdings (NYSE) VS. Visa Inc. (NYSE) • 15-METRIC TALLY: ASIC 3 — V 6

■ METRIC PARITY

LAST: $24.11 (-0.78%) • MKT CAP: $1.16B

macro-sensitivity

—

LAST: $420.42 (-1.20%) • MKT CAP: $760.28B

macro-sensitivity

1.06

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

INSTITUTIONAL METRIC	ASIC	V	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	—	—	—	TIE	/gross-margins <GO>
Return on Invested Capital (ROIC)	12.00%	32.30%	-20.30	V	/roic <GO>
EV/EBITDA & P/E Valuation	—	28.9x	—	TIE	/valuation <GO>
Free Cash Flow Yield	12.03%	2.90%	+9.13	ASIC	/fcf-yield <GO>
Operating Margin	—	60.00%	—	TIE	/operating-margins <GO>
Net Profit Margin	17.40%	50.10%	-32.70	V	/net-margins <GO>
Revenue Growth (YoY)	23.40%	11.30%	+12.10	ASIC	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	0.00%	0.63%	-0.63	V	/dividend-safety <GO>
Altman Z-Score & Debt/Equity	—	9.09	—	TIE	/balance-sheet <GO>
Piotroski F-Score Quality	6/9	9/9	-3.00	V	/piotroski-score <GO>
Options Implied Move & Put/Call Skew	—	—	—	TIE	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	44.2	74.2	-30.00	V	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta ACTIVE	—	1.06	—	TIE	/macro-sensitivity <GO>
Forward P/E Multiple	13.3x	34.0x	-20.70	ASIC	/forward-pe <GO>
Enterprise Scale & Market Cap	$1.16B	$760.28B	-$759.12B	V	/market-cap <GO>

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

FISCAL YEAR	ASIC REV	V REV	ASIC GROSS %	V GROSS %	ASIC FCF	V FCF
FY 2025	$424.3M	$40.00B	—	—	$140.7M	$21.26B
FY 2024	$343.8M	$35.93B	—	—	$125.4M	$18.33B
FY 2023	—	$32.65B	—	—	—	$19.29B

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

ASIC // BETA —

V // BETA 1.06