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GWAV vs HIHO // FORWARD P/E MULTIPLE

Greenwave Technology Solutions Inc. (NASDAQ) VS. Highway Holdings Limited (NASDAQ) • 15-METRIC TALLY: GWAV 4 — HIHO 1
■ METRIC PARITY
15-METRIC INSTITUTIONAL SIDE-BY-SIDE SCORECARD (GWAV VS. HIHO) EMERALD CELL = QUANTITATIVE EDGE
INSTITUTIONAL METRIC GWAV HIHO SPREAD (A - B) ADVANTAGE DEDICATED URL
Gross Profit Margin — 96.00% — TIE /gross-margins <GO>
Return on Invested Capital (ROIC) -35.00% — — TIE /roic <GO>
EV/EBITDA & P/E Valuation — — — TIE /valuation <GO>
Free Cash Flow Yield — — — TIE /fcf-yield <GO>
Operating Margin -42.50% -60.00% +17.50 GWAV /operating-margins <GO>
Net Profit Margin 52.70% -60.00% +112.70 GWAV /net-margins <GO>
Revenue Growth (YoY) 40.10% -65.00% +105.10 GWAV /revenue-growth <GO>
Dividend Yield & FCF Payout Safety 0.00% 0.00% 0.00 TIE /dividend-safety <GO>
Altman Z-Score & Debt/Equity — — — TIE /balance-sheet <GO>
Piotroski F-Score Quality 2/9 2/9 0.00 TIE /piotroski-score <GO>
Options Implied Move & Put/Call Skew — — — TIE /options-implied-move <GO>
RSI-14 & 200D SMA Momentum 37.3 45.5 -8.20 HIHO /rsi-technicals <GO>
10Y Yield & FRED Macro Beta — — — TIE /macro-sensitivity <GO>
Forward P/E Multiple ACTIVE — — — TIE /forward-pe <GO>
Enterprise Scale & Market Cap $6.1M $3.6M $2.5M GWAV /market-cap <GO>
5-YEAR HISTORICAL XBRL REVENUE & MARGIN TRAJECTORY SEC FORM 10-K FY
FISCAL YEAR GWAV REV HIHO REV GWAV GROSS % HIHO GROSS % GWAV FCF HIHO FCF
FY 2025 $46.7M $57.0K 25.4% 98.0% -$6.0M -$1.5M
FY 2024 $33.3M $7.4M 39.0% 33.3% -$17.3M -$461.0K
FY 2023 $35.7M $6.3M — — -$1.8M $415.0K
FRED MACRO REGIME CORRELATION COMPARISON PEARSON r
GWAV // BETA —
HIHO // BETA —