COMP <GO>

FELE vs MA // OPTIONS IMPLIED MOVE & PUT/CALL SKEW

Franklin Electric Co. Inc. (NASDAQ) VS. Mastercard Incorporated (NYSE) • 15-METRIC TALLY: FELE 4 — MA 8

■ METRIC PARITY

LAST: $95.38 (-1.41%) • MKT CAP: $4.27B

options-implied-move

6.60%

LAST: $638.01 (+0.36%) • MKT CAP: $556.88B

options-implied-move

6.60%

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

INSTITUTIONAL METRIC	FELE	MA	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	35.50%	41.00%	-5.50	MA	/gross-margins <GO>
Return on Invested Capital (ROIC)	13.20%	33.50%	-20.30	MA	/roic <GO>
EV/EBITDA & P/E Valuation	14.8x	29.2x	-14.40	FELE	/valuation <GO>
Free Cash Flow Yield	4.53%	3.08%	+1.45	FELE	/fcf-yield <GO>
Operating Margin	12.60%	57.60%	-45.00	MA	/operating-margins <GO>
Net Profit Margin	6.90%	45.60%	-38.70	MA	/net-margins <GO>
Revenue Growth (YoY)	5.40%	16.40%	-11.00	MA	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	1.17%	0.49%	+0.68	FELE	/dividend-safety <GO>
Altman Z-Score & Debt/Equity	5.46	11.17	-5.71	MA	/balance-sheet <GO>
Piotroski F-Score Quality	8/9	8/9	0.00	TIE	/piotroski-score <GO>
Options Implied Move & Put/Call Skew ACTIVE	6.60%	6.60%	0.00	TIE	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	36.6	70.6	-34.07	MA	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta	0.90	0.90	0.00	TIE	/macro-sensitivity <GO>
Forward P/E Multiple	27.1x	31.2x	-4.10	FELE	/forward-pe <GO>
Enterprise Scale & Market Cap	$4.27B	$556.88B	-$552.61B	MA	/market-cap <GO>

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

FISCAL YEAR	FELE REV	MA REV	FELE GROSS %	MA GROSS %	FELE FCF	MA FCF
FY 2025	$2.13B	$32.79B	35.5%	44.0%	$193.5M	$17.16B
FY 2024	$2.02B	$28.17B	35.5%	44.0%	$219.7M	$14.31B
FY 2023	$2.07B	$25.10B	44.0%	44.0%	$222.8M	$10.85B

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

FELE // BETA 0.90

MA // BETA 0.90