COMP <GO>

NBIS vs GOOG // 10Y YIELD & FRED MACRO BETA

Nebius Group N.V. Class A (NASDAQ) VS. Alphabet Inc. (NASDAQ) • 15-METRIC TALLY: NBIS 4 — GOOG 10

▲ 10Y YIELD & FRED MACRO BETA LEADER: NBIS

LAST: $154.14 (-10.38%) • MKT CAP: $46.76B

macro-sensitivity

1.34

LAST: $278.22 (-1.45%) • MKT CAP: $3.47T

macro-sensitivity

1.16

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

INSTITUTIONAL METRIC	NBIS	GOOG	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	68.60%	59.70%	+8.90	NBIS	/gross-margins <GO>
Return on Invested Capital (ROIC)	-9.60%	23.60%	-33.20	GOOG	/roic <GO>
EV/EBITDA & P/E Valuation	—	16.9x	—	TIE	/valuation <GO>
Free Cash Flow Yield	-7.87%	2.11%	-9.98	GOOG	/fcf-yield <GO>
Operating Margin	-60.00%	32.00%	-92.00	GOOG	/operating-margins <GO>
Net Profit Margin	15.60%	32.80%	-17.20	GOOG	/net-margins <GO>
Revenue Growth (YoY)	180.00%	15.10%	+164.90	NBIS	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	0.00%	0.29%	-0.29	GOOG	/dividend-safety <GO>
Altman Z-Score & Debt/Equity	4.14	13.93	-9.79	GOOG	/balance-sheet <GO>
Piotroski F-Score Quality	8/9	9/9	-1.00	GOOG	/piotroski-score <GO>
Options Implied Move & Put/Call Skew	8.10%	7.40%	+0.70	GOOG	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	35.6	21.1	+14.50	NBIS	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta ACTIVE	1.34	1.16	+0.18	NBIS	/macro-sensitivity <GO>
Forward P/E Multiple	140.0x	22.1x	+117.90	GOOG	/forward-pe <GO>
Enterprise Scale & Market Cap	$46.76B	$3.47T	-$3.42T	GOOG	/market-cap <GO>

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

FISCAL YEAR	NBIS REV	GOOG REV	NBIS GROSS %	GOOG GROSS %	NBIS FCF	GOOG FCF
FY 2025	$529.8M	$402.84B	68.6%	59.7%	-$3.68B	$73.27B
FY 2024	$91.5M	$350.02B	52.2%	58.2%	-$561.9M	$72.76B
FY 2023	$9.8M	$307.39B	44.0%	44.0%	$829.4M	$87.91B

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

NBIS // BETA 1.34

GOOG // BETA 1.16