COMP <GO>

MSC vs V // FORWARD P/E MULTIPLE

Studio City International Holdings Limited each representing four (Class A) (NYSE) VS. Visa Inc. (NYSE) • 15-METRIC TALLY: MSC 0 — V 10

■ METRIC PARITY

LAST: $0.79 (-0.63%) • MKT CAP: $165.4M

forward-pe

—

LAST: $410.54 (+2.48%) • MKT CAP: $733.53B

forward-pe

34.0x

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

INSTITUTIONAL METRIC	MSC	V	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	—	—	—	TIE	/gross-margins <GO>
Return on Invested Capital (ROIC)	2.30%	32.30%	-30.00	V	/roic <GO>
EV/EBITDA & P/E Valuation	29.7x	28.9x	+0.80	V	/valuation <GO>
Free Cash Flow Yield	—	2.90%	—	TIE	/fcf-yield <GO>
Operating Margin	10.10%	60.00%	-49.90	V	/operating-margins <GO>
Net Profit Margin	-8.50%	50.10%	-58.60	V	/net-margins <GO>
Revenue Growth (YoY)	8.70%	11.30%	-2.60	V	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	0.00%	0.63%	-0.63	V	/dividend-safety <GO>
Altman Z-Score & Debt/Equity	0.20	9.09	-8.89	V	/balance-sheet <GO>
Piotroski F-Score Quality	5/9	9/9	-4.00	V	/piotroski-score <GO>
Options Implied Move & Put/Call Skew	—	—	—	TIE	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	30.2	65.6	-35.40	V	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta	—	1.06	—	TIE	/macro-sensitivity <GO>
Forward P/E Multiple ACTIVE	—	34.0x	—	TIE	/forward-pe <GO>
Enterprise Scale & Market Cap	$165.4M	$733.53B	-$733.37B	V	/market-cap <GO>

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

FISCAL YEAR	MSC REV	V REV	MSC GROSS %	V GROSS %	MSC FCF	V FCF
FY 2025	$694.6M	$40.00B	—	—	$210.3M	$21.26B
FY 2024	$639.1M	$35.93B	—	—	$189.9M	$18.33B
FY 2023	$445.5M	$32.65B	—	—	-$18.9M	$19.29B

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

MSC // BETA —

V // BETA 1.06