COMP <GO>

BMY vs LLY // OPTIONS IMPLIED MOVE & PUT/CALL SKEW

Bristol-Myers Squibb Company (NYSE) VS. Eli Lilly and Company (NYSE) • 15-METRIC TALLY: BMY 5 — LLY 10

▲ OPTIONS IMPLIED MOVE & PUT/CALL SKEW LEADER: LLY

LAST: $62.48 (+1.78%) • MKT CAP: $125.40B

options-implied-move

6.80%

LAST: $1,417.54 (+3.19%) • MKT CAP: $1.33T

options-implied-move

6.77%

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

INSTITUTIONAL METRIC	BMY	LLY	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	71.10%	83.64%	-12.54	LLY	/gross-margins <GO>
Return on Invested Capital (ROIC)	13.30%	32.36%	-19.06	LLY	/roic <GO>
EV/EBITDA & P/E Valuation	16.3x	36.4x	-20.12	BMY	/valuation <GO>
Free Cash Flow Yield	10.24%	2.30%	+7.94	BMY	/fcf-yield <GO>
Operating Margin	17.90%	40.21%	-22.31	LLY	/operating-margins <GO>
Net Profit Margin	14.60%	31.90%	-17.30	LLY	/net-margins <GO>
Revenue Growth (YoY)	-0.20%	45.51%	-45.71	LLY	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	4.02%	0.49%	+3.53	BMY	/dividend-safety <GO>
Altman Z-Score & Debt/Equity	2.24	9.29	-7.05	LLY	/balance-sheet <GO>
Piotroski F-Score Quality	7/9	9/9	-2.00	LLY	/piotroski-score <GO>
Options Implied Move & Put/Call Skew ACTIVE	6.80%	6.77%	+0.03	LLY	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	54.7	77.9	-23.17	LLY	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta	0.98	0.51	+0.47	BMY	/macro-sensitivity <GO>
Forward P/E Multiple	16.6x	26.3x	-9.65	BMY	/forward-pe <GO>
Enterprise Scale & Market Cap	$125.40B	$1.33T	-$1.21T	LLY	/market-cap <GO>

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

FISCAL YEAR	BMY REV	LLY REV	BMY GROSS %	LLY GROSS %	BMY FCF	LLY FCF
FY 2025	$48.19B	$65.18B	71.1%	83.0%	$12.85B	$16.81B
FY 2024	$48.30B	$45.04B	71.1%	81.3%	$13.94B	$8.82B
FY 2023	$45.01B	$34.12B	44.0%	79.3%	$11.83B	$4.24B
FY 2022	—	$28.54B	—	76.8%	—	$7.59B
FY 2021	—	$28.32B	—	74.2%	—	$7.37B

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

BMY // BETA 0.98

LLY // BETA 0.51