COMP <GO>

KNSL vs HSBC // 10Y YIELD & FRED MACRO BETA

Kinsale Capital Group Inc. (NYSE) VS. HSBC Holdings plc. (NYSE) • 15-METRIC TALLY: KNSL 10 — HSBC 4

▲ 10Y YIELD & FRED MACRO BETA LEADER: KNSL

LAST: $365.71 (+0.76%) • MKT CAP: $8.17B

macro-sensitivity

1.00

LAST: $85.42 (-1.36%) • MKT CAP: $297.33B

macro-sensitivity

0.92

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

INSTITUTIONAL METRIC	KNSL	HSBC	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	41.00%	41.00%	0.00	TIE	/gross-margins <GO>
Return on Invested Capital (ROIC)	13.80%	9.90%	+3.90	KNSL	/roic <GO>
EV/EBITDA & P/E Valuation	14.7x	21.0x	-6.30	KNSL	/valuation <GO>
Free Cash Flow Yield	12.12%	2.21%	+9.91	KNSL	/fcf-yield <GO>
Operating Margin	32.80%	13.90%	+18.90	KNSL	/operating-margins <GO>
Net Profit Margin	26.90%	10.90%	+16.00	KNSL	/net-margins <GO>
Revenue Growth (YoY)	18.00%	23.10%	-5.10	HSBC	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	0.19%	0.00%	+0.19	KNSL	/dividend-safety <GO>
Altman Z-Score & Debt/Equity	2.43	3.74	-1.31	HSBC	/balance-sheet <GO>
Piotroski F-Score Quality	9/9	8/9	+1.00	KNSL	/piotroski-score <GO>
Options Implied Move & Put/Call Skew	6.90%	6.60%	+0.30	HSBC	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	54.6	25.0	+29.57	KNSL	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta ACTIVE	1.00	0.92	+0.08	KNSL	/macro-sensitivity <GO>
Forward P/E Multiple	13.6x	27.6x	-14.00	KNSL	/forward-pe <GO>
Enterprise Scale & Market Cap	$8.17B	$297.33B	-$289.16B	HSBC	/market-cap <GO>

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

FISCAL YEAR	KNSL REV	HSBC REV	KNSL GROSS %	HSBC GROSS %	KNSL FCF	HSBC FCF
FY 2025	$1.87B	—	44.0%	—	$990.1M	—
FY 2024	$1.59B	—	44.0%	—	$952.4M	—
FY 2023	$1.22B	—	44.0%	—	$804.7M	—

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

KNSL // BETA 1.00

HSBC // BETA 0.92