COMP <GO>

EQNR vs SHEL // ALTMAN Z-SCORE & DEBT/EQUITY

Equinor ASA (NYSE) VS. Shell PLC American (NYSE) • 15-METRIC TALLY: EQNR 3 — SHEL 3

■ METRIC PARITY

LAST: $48.75 (+2.46%) • MKT CAP: $118.96B

balance-sheet

3.74

LAST: $108.69 (+0.95%) • MKT CAP: $297.82B

balance-sheet

3.74

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

INSTITUTIONAL METRIC	EQNR	SHEL	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	41.00%	41.00%	0.00	TIE	/gross-margins <GO>
Return on Invested Capital (ROIC)	9.90%	9.90%	0.00	TIE	/roic <GO>
EV/EBITDA & P/E Valuation	21.0x	21.0x	0.00	TIE	/valuation <GO>
Free Cash Flow Yield	2.21%	2.21%	0.00	TIE	/fcf-yield <GO>
Operating Margin	13.90%	13.90%	0.00	TIE	/operating-margins <GO>
Net Profit Margin	10.90%	10.90%	0.00	TIE	/net-margins <GO>
Revenue Growth (YoY)	9.90%	3.30%	+6.60	EQNR	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	0.00%	0.00%	0.00	TIE	/dividend-safety <GO>
Altman Z-Score & Debt/Equity ACTIVE	3.74	3.74	0.00	TIE	/balance-sheet <GO>
Piotroski F-Score Quality	8/9	7/9	+1.00	EQNR	/piotroski-score <GO>
Options Implied Move & Put/Call Skew	6.90%	7.00%	-0.10	EQNR	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	65.9	69.8	-3.90	SHEL	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta	1.00	1.02	-0.02	SHEL	/macro-sensitivity <GO>
Forward P/E Multiple	30.5x	30.5x	0.00	TIE	/forward-pe <GO>
Enterprise Scale & Market Cap	$118.96B	$297.82B	-$178.86B	SHEL	/market-cap <GO>

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

FISCAL YEAR	EQNR REV	SHEL REV	EQNR GROSS %	SHEL GROSS %	EQNR FCF	SHEL FCF
INSPECT INDIVIDUAL XBRL MODELS AT EQNR FA <GO> AND SHEL FA <GO>.

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

EQNR // BETA 1.00

SHEL // BETA 1.02