COMP <GO>

BAFN vs SBFG // EV/EBITDA & P/E VALUATION

BayFirst Financial Corp. (NASDAQ) VS. SB Financial Group Inc. (NASDAQ) • 15-METRIC TALLY: BAFN 0 — SBFG 5

■ METRIC PARITY

LAST: $5.88 (+1.38%) • MKT CAP: $182.7M

valuation

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LAST: $31.43 (+1.75%) • MKT CAP: $196.5M

valuation

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

INSTITUTIONAL METRIC	BAFN	SBFG	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	—	—	—	TIE	/gross-margins <GO>
Return on Invested Capital (ROIC)	-30.10%	9.90%	-40.00	SBFG	/roic <GO>
EV/EBITDA & P/E Valuation ACTIVE	—	—	—	TIE	/valuation <GO>
Free Cash Flow Yield	—	12.31%	—	TIE	/fcf-yield <GO>
Operating Margin	—	—	—	TIE	/operating-margins <GO>
Net Profit Margin	—	—	—	TIE	/net-margins <GO>
Revenue Growth (YoY)	—	—	—	TIE	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	0.40%	1.97%	-1.57	SBFG	/dividend-safety <GO>
Altman Z-Score & Debt/Equity	—	—	—	TIE	/balance-sheet <GO>
Piotroski F-Score Quality	3/9	5/9	-2.00	SBFG	/piotroski-score <GO>
Options Implied Move & Put/Call Skew	—	—	—	TIE	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	42.1	69.0	-26.90	SBFG	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta	—	—	—	TIE	/macro-sensitivity <GO>
Forward P/E Multiple	—	13.0x	—	TIE	/forward-pe <GO>
Enterprise Scale & Market Cap	$182.7M	$196.5M	-$13.8M	SBFG	/market-cap <GO>

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

FISCAL YEAR	BAFN REV	SBFG REV	BAFN GROSS %	SBFG GROSS %	BAFN FCF	SBFG FCF
FY 2025	$543.6M	$649.1M	—	—	$288.5M	$24.0M
FY 2024	$538.8M	$579.4M	—	—	$391.7M	$9.5M
FY 2023	$1.73B	$54.4M	—	—	$454.8M	$14.0M

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

BAFN // BETA —

SBFG // BETA —