COMP <GO>

BIO vs JNJ // 10Y YIELD & FRED MACRO BETA

Bio-Rad Laboratories Inc. (NYSE) VS. Johnson & Johnson (NYSE) • 15-METRIC TALLY: BIO 4 — JNJ 10

▲ 10Y YIELD & FRED MACRO BETA LEADER: JNJ

LAST: $372.18 (-3.18%) • MKT CAP: $10.28B

macro-sensitivity

1.04

LAST: $273.20 (-0.73%) • MKT CAP: $662.49B

macro-sensitivity

1.08

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

INSTITUTIONAL METRIC	BIO	JNJ	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	51.90%	67.90%	-16.00	JNJ	/gross-margins <GO>
Return on Invested Capital (ROIC)	0.50%	25.50%	-25.00	JNJ	/roic <GO>
EV/EBITDA & P/E Valuation	60.4x	18.5x	+41.90	JNJ	/valuation <GO>
Free Cash Flow Yield	3.64%	2.97%	+0.67	BIO	/fcf-yield <GO>
Operating Margin	1.80%	34.70%	-32.90	JNJ	/operating-margins <GO>
Net Profit Margin	29.40%	28.50%	+0.90	BIO	/net-margins <GO>
Revenue Growth (YoY)	0.70%	6.00%	-5.30	JNJ	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	0.00%	0.00%	0.00	TIE	/dividend-safety <GO>
Altman Z-Score & Debt/Equity	3.59	5.59	-2.00	JNJ	/balance-sheet <GO>
Piotroski F-Score Quality	7/9	8/9	-1.00	JNJ	/piotroski-score <GO>
Options Implied Move & Put/Call Skew	7.00%	7.20%	-0.20	BIO	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	51.6	60.4	-8.79	JNJ	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta ACTIVE	1.04	1.08	-0.04	JNJ	/macro-sensitivity <GO>
Forward P/E Multiple	12.6x	23.0x	-10.40	BIO	/forward-pe <GO>
Enterprise Scale & Market Cap	$10.28B	$662.49B	-$652.21B	JNJ	/market-cap <GO>

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

FISCAL YEAR	BIO REV	JNJ REV	BIO GROSS %	JNJ GROSS %	BIO FCF	JNJ FCF
FY 2025	$2.58B	$94.19B	51.9%	67.9%	$374.6M	$19.70B
FY 2024	$2.57B	$88.82B	53.7%	69.1%	$289.6M	$19.84B
FY 2023	$2.67B	$85.16B	44.0%	44.0%	$254.7M	$18.96B

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

BIO // BETA 1.04

JNJ // BETA 1.08