COMP <GO>

BAM vs PDM // EV/EBITDA & P/E VALUATION

Brookfield Asset Management Inc Class A Limited Voting Shares (NYSE) VS. Piedmont Realty Trust Inc. (Class A) (NYSE) • 15-METRIC TALLY: BAM 7 — PDM 1

■ METRIC PARITY

BAM — Brookfield Asset Management Inc Class A Limited Voting Shares ROARABLE B+ • RQD 76/100

LAST: $48.60 (+2.60%) • MKT CAP: $77.63B

DES <GO> FA <GO> 10-K RED <GO>

valuation

25.6x

PDM — Piedmont Realty Trust Inc. (Class A) ROARABLE D+ • RQD 54/100

LAST: $9.51 (+3.60%) • MKT CAP: $1.18B

DES <GO> FA <GO> 10-K RED <GO>

valuation

—

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

INSTITUTIONAL METRIC	BAM	PDM	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	—	—	—	TIE	/gross-margins <GO>
Return on Invested Capital (ROIC)	20.00%	-5.60%	+25.60	BAM	/roic <GO>
EV/EBITDA & P/E Valuation ACTIVE	25.6x	—	—	TIE	/valuation <GO>
Free Cash Flow Yield	2.48%	11.94%	-9.46	PDM	/fcf-yield <GO>
Operating Margin	74.20%	—	—	TIE	/operating-margins <GO>
Net Profit Margin	60.80%	-14.80%	+75.60	BAM	/net-margins <GO>
Revenue Growth (YoY)	16.70%	-0.90%	+17.60	BAM	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	3.63%	2.62%	+1.01	BAM	/dividend-safety <GO>
Altman Z-Score & Debt/Equity	7.93	—	—	TIE	/balance-sheet <GO>
Piotroski F-Score Quality	8/9	3/9	+5.00	BAM	/piotroski-score <GO>
Options Implied Move & Put/Call Skew	—	—	—	TIE	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	62.8	58.2	+4.58	BAM	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta	1.06	—	—	TIE	/macro-sensitivity <GO>
Forward P/E Multiple	27.2x	—	—	TIE	/forward-pe <GO>
Enterprise Scale & Market Cap	$77.63B	$1.18B	$76.45B	BAM	/market-cap <GO>

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

FISCAL YEAR	BAM REV	PDM REV	BAM GROSS %	PDM GROSS %	BAM FCF	PDM FCF
FY 2025	$3.94B	$565.0M	—	—	$1.92B	$140.6M
FY 2024	$3.38B	$570.3M	—	—	$1.46B	$198.1M
FY 2023	$3.14B	$577.8M	—	—	$1.30B	$210.1M

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

BAM // BETA 1.06

PDM // BETA —