COMP <GO>

DRS vs TMO // OPTIONS IMPLIED MOVE & PUT/CALL SKEW

Leonardo DRS Inc. (NASDAQ) VS. Thermo Fisher Scientific Inc (NYSE) • 15-METRIC TALLY: DRS 4 — TMO 10

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

LAST: $37.68 (-4.94%) • MKT CAP: $10.58B

options-implied-move

6.50%

LAST: $697.00 (-1.72%) • MKT CAP: $262.22B

options-implied-move

6.70%

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

INSTITUTIONAL METRIC	DRS	TMO	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	23.80%	41.00%	-17.20	TMO	/gross-margins <GO>
Return on Invested Capital (ROIC)	9.20%	9.30%	-0.10	TMO	/roic <GO>
EV/EBITDA & P/E Valuation	23.2x	30.4x	-7.20	DRS	/valuation <GO>
Free Cash Flow Yield	2.15%	2.40%	-0.25	TMO	/fcf-yield <GO>
Operating Margin	9.50%	17.40%	-7.90	TMO	/operating-margins <GO>
Net Profit Margin	7.60%	15.10%	-7.50	TMO	/net-margins <GO>
Revenue Growth (YoY)	12.80%	3.90%	+8.90	DRS	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	0.00%	0.24%	-0.24	TMO	/dividend-safety <GO>
Altman Z-Score & Debt/Equity	3.59	4.50	-0.91	TMO	/balance-sheet <GO>
Piotroski F-Score Quality	8/9	8/9	0.00	TIE	/piotroski-score <GO>
Options Implied Move & Put/Call Skew ACTIVE	6.50%	6.70%	-0.20	DRS	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	56.6	59.1	-2.54	TMO	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta	0.89	0.94	-0.05	TMO	/macro-sensitivity <GO>
Forward P/E Multiple	32.0x	36.3x	-4.30	DRS	/forward-pe <GO>
Enterprise Scale & Market Cap	$10.58B	$262.22B	-$251.64B	TMO	/market-cap <GO>

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

FISCAL YEAR	DRS REV	TMO REV	DRS GROSS %	TMO GROSS %	DRS FCF	TMO FCF
FY 2025	$3.65B	$44.56B	23.8%	44.0%	$227.0M	$6.29B
FY 2024	$3.23B	$42.88B	22.8%	44.0%	$186.0M	$7.27B
FY 2023	$2.83B	$42.86B	44.0%	44.0%	$77.8M	$6.48B

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

DRS // BETA 0.89

TMO // BETA 0.94