COMP <GO>

FUNC vs ATLO // EV/EBITDA & P/E VALUATION

First United Corporation (NASDAQ) VS. Ames National Corporation (NASDAQ) • 15-METRIC TALLY: FUNC 2 — ATLO 5

■ METRIC PARITY

LAST: $46.02 (+0.42%) • MKT CAP: $297.0M

valuation

—

LAST: $33.86 (+0.24%) • MKT CAP: $299.9M

valuation

—

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

INSTITUTIONAL METRIC	FUNC	ATLO	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	—	—	—	TIE	/gross-margins <GO>
Return on Invested Capital (ROIC)	12.00%	9.20%	+2.80	FUNC	/roic <GO>
EV/EBITDA & P/E Valuation ACTIVE	—	—	—	TIE	/valuation <GO>
Free Cash Flow Yield	5.19%	6.90%	-1.71	ATLO	/fcf-yield <GO>
Operating Margin	—	—	—	TIE	/operating-margins <GO>
Net Profit Margin	68.00%	—	—	TIE	/net-margins <GO>
Revenue Growth (YoY)	4.00%	—	—	TIE	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	2.01%	2.37%	-0.36	ATLO	/dividend-safety <GO>
Altman Z-Score & Debt/Equity	—	—	—	TIE	/balance-sheet <GO>
Piotroski F-Score Quality	4/9	5/9	-1.00	ATLO	/piotroski-score <GO>
Options Implied Move & Put/Call Skew	—	—	—	TIE	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	58.9	60.3	-1.42	ATLO	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta	—	—	—	TIE	/macro-sensitivity <GO>
Forward P/E Multiple	11.3x	14.7x	-3.40	FUNC	/forward-pe <GO>
Enterprise Scale & Market Cap	$297.0M	$299.9M	-$2.9M	ATLO	/market-cap <GO>

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

FISCAL YEAR	FUNC REV	ATLO REV	FUNC GROSS %	ATLO GROSS %	FUNC FCF	ATLO FCF
FY 2025	$18.4M	$0	—	—	$15.4M	$20.7M
FY 2024	$17.7M	$0	—	—	$20.4M	$14.0M
FY 2023	$16.7M	$0	—	—	$22.5M	$19.2M

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

FUNC // BETA —

ATLO // BETA —