COMP <GO>

ITW vs BRK-A // PIOTROSKI F-SCORE QUALITY

Illinois Tool Works Inc. (NYSE) VS. Berkshire Hathaway Inc. (NYSE) • 15-METRIC TALLY: ITW 7 — BRK-A 7

■ METRIC PARITY

LAST: $278.55 (-1.01%) • MKT CAP: $79.97B

piotroski-score

6/9

LAST: $815,600.00 (-0.23%) • MKT CAP: $1.20T

piotroski-score

6/9

15-METRIC INSTITUTIONAL SIDE-BY-SIDE SCORECARD (ITW VS. BRK-A) EMERALD CELL = QUANTITATIVE EDGE

INSTITUTIONAL METRIC	ITW	BRK-A	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	52.90%	41.00%	+11.90	ITW	/gross-margins <GO>
Return on Invested Capital (ROIC)	23.40%	8.30%	+15.10	ITW	/roic <GO>
EV/EBITDA & P/E Valuation	18.8x	12.7x	+6.10	BRK-A	/valuation <GO>
Free Cash Flow Yield	3.38%	2.08%	+1.30	ITW	/fcf-yield <GO>
Operating Margin	26.30%	33.00%	-6.70	BRK-A	/operating-margins <GO>
Net Profit Margin	20.50%	27.10%	-6.60	BRK-A	/net-margins <GO>
Revenue Growth (YoY)	0.90%	-1.00%	+1.90	ITW	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	2.23%	0.00%	+2.23	ITW	/dividend-safety <GO>
Altman Z-Score & Debt/Equity	10.74	3.02	+7.72	ITW	/balance-sheet <GO>
Piotroski F-Score Quality ACTIVE	6/9	6/9	0.00	TIE	/piotroski-score <GO>
Options Implied Move & Put/Call Skew	6.60%	7.30%	-0.70	ITW	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	58.8	67.2	-8.36	BRK-A	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta	0.92	1.13	-0.21	BRK-A	/macro-sensitivity <GO>
Forward P/E Multiple	22.6x	16.7x	+5.90	BRK-A	/forward-pe <GO>
Enterprise Scale & Market Cap	$79.97B	$1.20T	-$1.12T	BRK-A	/market-cap <GO>

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

FISCAL YEAR	ITW REV	BRK-A REV	ITW GROSS %	BRK-A GROSS %	ITW FCF	BRK-A FCF
FY 2025	$16.04B	$247.24B	52.9%	44.0%	$2.71B	$25.04B
FY 2024	$15.90B	$249.71B	52.2%	44.0%	$2.84B	$11.62B
FY 2023	$16.11B	$254.91B	44.0%	44.0%	$2.81B	$37.73B

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

ITW // BETA 0.92

BRK-A // BETA 1.13