COMP <GO>

FLYW vs TIC // EV/EBITDA & P/E VALUATION

Flywire Corporation Voting (NASDAQ) VS. TIC Solutions Inc. (NYSE) • 15-METRIC TALLY: FLYW 7 — TIC 1

■ METRIC PARITY

LAST: $19.29 (+1.90%) • MKT CAP: $2.35B

valuation

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LAST: $10.39 (+3.90%) • MKT CAP: $2.27B

valuation

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

INSTITUTIONAL METRIC	FLYW	TIC	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	—	29.40%	—	TIE	/gross-margins <GO>
Return on Invested Capital (ROIC)	1.80%	-0.40%	+2.20	FLYW	/roic <GO>
EV/EBITDA & P/E Valuation ACTIVE	—	—	—	TIE	/valuation <GO>
Free Cash Flow Yield	4.21%	2.70%	+1.51	FLYW	/fcf-yield <GO>
Operating Margin	1.80%	-1.10%	+2.90	FLYW	/operating-margins <GO>
Net Profit Margin	2.20%	-5.70%	+7.90	FLYW	/net-margins <GO>
Revenue Growth (YoY)	26.60%	—	—	TIE	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	0.00%	0.00%	0.00	TIE	/dividend-safety <GO>
Altman Z-Score & Debt/Equity	3.91	1.08	+2.83	FLYW	/balance-sheet <GO>
Piotroski F-Score Quality	7/9	6/9	+1.00	FLYW	/piotroski-score <GO>
Options Implied Move & Put/Call Skew	—	—	—	TIE	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	63.2	64.3	-1.13	TIC	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta	—	—	—	TIE	/macro-sensitivity <GO>
Forward P/E Multiple	—	—	—	TIE	/forward-pe <GO>
Enterprise Scale & Market Cap	$2.35B	$2.27B	$79.7M	FLYW	/market-cap <GO>

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

FISCAL YEAR	FLYW REV	TIC REV	FLYW GROSS %	TIC GROSS %	FLYW FCF	TIC FCF
FY 2025	$623.0M	$1.53B	—	29.4%	$98.8M	$61.3M
FY 2024	$492.1M	$0	—	—	$97.7M	—
FY 2023	$403.1M	$1.05B	—	—	$76.3M	—

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

FLYW // BETA —

TIC // BETA —