COMP <GO>

BXMT vs DEI // 10Y YIELD & FRED MACRO BETA

Blackstone Mortgage Trust Inc. (NYSE) VS. Douglas Emmett Inc. (NYSE) • 15-METRIC TALLY: BXMT 4 — DEI 3

■ METRIC PARITY

LAST: $10.87 (+2.94%) • MKT CAP: $1.83B

macro-sensitivity

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LAST: $10.21 (+2.10%) • MKT CAP: $1.71B

macro-sensitivity

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

INSTITUTIONAL METRIC	BXMT	DEI	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	—	—	—	TIE	/gross-margins <GO>
Return on Invested Capital (ROIC)	3.10%	0.90%	+2.20	BXMT	/roic <GO>
EV/EBITDA & P/E Valuation	—	—	—	TIE	/valuation <GO>
Free Cash Flow Yield	15.06%	22.62%	-7.56	DEI	/fcf-yield <GO>
Operating Margin	—	—	—	TIE	/operating-margins <GO>
Net Profit Margin	—	1.60%	—	TIE	/net-margins <GO>
Revenue Growth (YoY)	—	1.80%	—	TIE	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	0.00%	7.44%	-7.44	DEI	/dividend-safety <GO>
Altman Z-Score & Debt/Equity	—	—	—	TIE	/balance-sheet <GO>
Piotroski F-Score Quality	5/9	4/9	+1.00	BXMT	/piotroski-score <GO>
Options Implied Move & Put/Call Skew	—	—	—	TIE	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	45.0	52.6	-7.66	DEI	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta ACTIVE	—	—	—	TIE	/macro-sensitivity <GO>
Forward P/E Multiple	15.5x	97.7x	-82.20	BXMT	/forward-pe <GO>
Enterprise Scale & Market Cap	$1.83B	$1.71B	$122.0M	BXMT	/market-cap <GO>

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

FISCAL YEAR	BXMT REV	DEI REV	BXMT GROSS %	DEI GROSS %	BXMT FCF	DEI FCF
FY 2025	$0	$1.00B	—	—	$275.9M	$386.9M
FY 2024	$0	$986.5M	—	—	$366.5M	$408.7M
FY 2023	$0	$1.02B	—	—	$458.8M	$427.0M

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

BXMT // BETA —

DEI // BETA —