COMP <GO>
BLND vs TSM // 10Y YIELD & FRED MACRO BETA
Blend Labs Inc. (Class A) (NYSE) VS. Taiwan Semiconductor Manufacturing Company Ltd. (NYSE) • 15-METRIC TALLY: BLND 3
— TSM 4
■ METRIC PARITY
LAST: $1.12 (-3.45%) • MKT CAP: $274.4M
macro-sensitivity
—
LAST: $406.13 (-5.95%) • MKT CAP: $2.24T
macro-sensitivity
1.42
15-METRIC INSTITUTIONAL SIDE-BY-SIDE SCORECARD (BLND VS. TSM)
EMERALD CELL = QUANTITATIVE EDGE
| INSTITUTIONAL METRIC | BLND | TSM | SPREAD (A - B) | ADVANTAGE | DEDICATED URL |
|---|---|---|---|---|---|
| Gross Profit Margin | 73.80% | — | — | TIE | /gross-margins <GO> |
| Return on Invested Capital (ROIC) | -35.00% | 14.90% | -49.90 | TSM | /roic <GO> |
| EV/EBITDA & P/E Valuation | — | 14.9x | — | TIE | /valuation <GO> |
| Free Cash Flow Yield | 4.20% | 3.99% | +0.21 | BLND | /fcf-yield <GO> |
| Operating Margin | -17.60% | 21.10% | -38.70 | TSM | /operating-margins <GO> |
| Net Profit Margin | -5.50% | 16.40% | -21.90 | TSM | /net-margins <GO> |
| Revenue Growth (YoY) | 6.80% | -3.30% | +10.10 | BLND | /revenue-growth <GO> |
| Dividend Yield & FCF Payout Safety | 0.00% | 0.00% | 0.00 | TIE | /dividend-safety <GO> |
| Altman Z-Score & Debt/Equity | — | 3.87 | — | TIE | /balance-sheet <GO> |
| Piotroski F-Score Quality | 7/9 | 7/9 | 0.00 | TIE | /piotroski-score <GO> |
| Options Implied Move & Put/Call Skew | — | — | — | TIE | /options-implied-move <GO> |
| RSI-14 & 200D SMA Momentum | 54.0 | 49.4 | +4.60 | BLND | /rsi-technicals <GO> |
| 10Y Yield & FRED Macro Beta ACTIVE | — | 1.42 | — | TIE | /macro-sensitivity <GO> |
| Forward P/E Multiple | — | 20.2x | — | TIE | /forward-pe <GO> |
| Enterprise Scale & Market Cap | $274.4M | $2.24T | -$2.24T | TSM | /market-cap <GO> |
5-YEAR HISTORICAL XBRL REVENUE & MARGIN TRAJECTORY SEC FORM 10-K FY
| FISCAL YEAR | BLND REV | TSM REV | BLND GROSS % | TSM GROSS % | BLND FCF | TSM FCF |
|---|---|---|---|---|---|---|
| FY 2025 | $123.6M | — | 73.8% | — | $11.5M | — |
| FY 2024 | $115.8M | — | 71.9% | — | -$13.0M | — |
| FY 2023 | $109.5M | — | — | — | -$127.6M | — |
FRED MACRO REGIME CORRELATION COMPARISON PEARSON r
BLND // BETA —
TSM // BETA 1.42