COMP <GO>

CVSA vs TAL // DIVIDEND YIELD & FCF PAYOUT SAFETY

Covista Inc. (NYSE) VS. TAL Education Group (NYSE) • 15-METRIC TALLY: CVSA 7 — TAL 7

■ METRIC PARITY

LAST: $124.33 (-3.44%) • MKT CAP: $4.36B

dividend-safety

3.40%

LAST: $9.87 (-2.66%) • MKT CAP: $5.62B

dividend-safety

3.40%

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

INSTITUTIONAL METRIC	CVSA	TAL	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	56.90%	55.40%	+1.50	CVSA	/gross-margins <GO>
Return on Invested Capital (ROIC)	14.80%	12.40%	+2.40	CVSA	/roic <GO>
EV/EBITDA & P/E Valuation	12.5x	16.5x	-4.00	CVSA	/valuation <GO>
Free Cash Flow Yield	6.60%	9.04%	-2.44	TAL	/fcf-yield <GO>
Operating Margin	19.10%	9.20%	+9.90	CVSA	/operating-margins <GO>
Net Profit Margin	13.30%	17.60%	-4.30	TAL	/net-margins <GO>
Revenue Growth (YoY)	12.90%	33.70%	-20.80	TAL	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety ACTIVE	3.40%	3.40%	0.00	TIE	/dividend-safety <GO>
Altman Z-Score & Debt/Equity	4.73	4.29	+0.44	CVSA	/balance-sheet <GO>
Piotroski F-Score Quality	8/9	9/9	-1.00	TAL	/piotroski-score <GO>
Options Implied Move & Put/Call Skew	7.10%	7.20%	-0.10	CVSA	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	43.0	25.1	+17.85	CVSA	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta	1.05	1.09	-0.04	TAL	/macro-sensitivity <GO>
Forward P/E Multiple	15.5x	8.9x	+6.60	TAL	/forward-pe <GO>
Enterprise Scale & Market Cap	$4.36B	$5.62B	-$1.26B	TAL	/market-cap <GO>

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

FISCAL YEAR	CVSA REV	TAL REV	CVSA GROSS %	TAL GROSS %	CVSA FCF	TAL FCF
FY 2025	$1.79B	$3.01B	56.9%	55.4%	$287.6M	$508.3M
FY 2024	$1.58B	$2.25B	55.9%	53.3%	$246.9M	$286.2M
FY 2023	$1.45B	$1.49B	44.0%	44.0%	$126.6M	$239.1M

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

CVSA // BETA 1.05

TAL // BETA 1.09