COMP <GO>

CDLR vs LPG // OPTIONS IMPLIED MOVE & PUT/CALL SKEW

Cadeler A/S (each representing four (4) ) (NYSE) VS. Dorian LPG Ltd. (NYSE) • 15-METRIC TALLY: CDLR 2 — LPG 1

■ METRIC PARITY

LAST: $26.69 (+3.49%) • MKT CAP: $2.58B

options-implied-move

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LAST: $54.68 (+1.28%) • MKT CAP: $2.34B

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

INSTITUTIONAL METRIC	CDLR	LPG	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	—	—	—	TIE	/gross-margins <GO>
Return on Invested Capital (ROIC)	—	13.80%	—	TIE	/roic <GO>
EV/EBITDA & P/E Valuation	—	11.7x	—	TIE	/valuation <GO>
Free Cash Flow Yield	—	8.98%	—	TIE	/fcf-yield <GO>
Operating Margin	—	43.60%	—	TIE	/operating-margins <GO>
Net Profit Margin	—	40.20%	—	TIE	/net-margins <GO>
Revenue Growth (YoY)	—	36.30%	—	TIE	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	0.00%	4.49%	-4.49	LPG	/dividend-safety <GO>
Altman Z-Score & Debt/Equity	—	3.12	—	TIE	/balance-sheet <GO>
Piotroski F-Score Quality	—	9/9	—	TIE	/piotroski-score <GO>
Options Implied Move & Put/Call Skew ACTIVE	—	—	—	TIE	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	78.2	50.4	+27.84	CDLR	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta	—	—	—	TIE	/macro-sensitivity <GO>
Forward P/E Multiple	—	10.2x	—	TIE	/forward-pe <GO>
Enterprise Scale & Market Cap	$2.58B	$2.34B	$236.0M	CDLR	/market-cap <GO>

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

FISCAL YEAR	CDLR REV	LPG REV	CDLR GROSS %	LPG GROSS %	CDLR FCF	LPG FCF
FY 2025	—	$481.5M	—	—	—	$210.1M
FY 2024	—	$353.3M	—	—	—	$173.0M
FY 2023	—	$560.7M	—	—	—	$388.4M

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

CDLR // BETA —

LPG // BETA —