COMP <GO>

NCV vs JCAP // OPTIONS IMPLIED MOVE & PUT/CALL SKEW

Virtus Convertible & Income Fund of (NYSE) VS. Jefferson Capital Inc. (NASDAQ) • 15-METRIC TALLY: NCV 2 — JCAP 1

■ METRIC PARITY

LAST: $15.52 (0.00%) • MKT CAP: $1.40B

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LAST: $19.93 (+2.52%) • MKT CAP: $1.14B

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

INSTITUTIONAL METRIC	NCV	JCAP	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	—	—	—	TIE	/gross-margins <GO>
Return on Invested Capital (ROIC)	—	55.20%	—	TIE	/roic <GO>
EV/EBITDA & P/E Valuation	—	3.5x	—	TIE	/valuation <GO>
Free Cash Flow Yield	—	23.49%	—	TIE	/fcf-yield <GO>
Operating Margin	—	51.60%	—	TIE	/operating-margins <GO>
Net Profit Margin	—	30.60%	—	TIE	/net-margins <GO>
Revenue Growth (YoY)	—	41.50%	—	TIE	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	0.00%	5.54%	-5.54	JCAP	/dividend-safety <GO>
Altman Z-Score & Debt/Equity	—	—	—	TIE	/balance-sheet <GO>
Piotroski F-Score Quality	—	7/9	—	TIE	/piotroski-score <GO>
Options Implied Move & Put/Call Skew ACTIVE	—	—	—	TIE	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	45.2	43.3	+1.94	NCV	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta	—	—	—	TIE	/macro-sensitivity <GO>
Forward P/E Multiple	—	5.1x	—	TIE	/forward-pe <GO>
Enterprise Scale & Market Cap	$1.40B	$1.14B	$258.1M	NCV	/market-cap <GO>

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

FISCAL YEAR	NCV REV	JCAP REV	NCV GROSS %	JCAP GROSS %	NCV FCF	JCAP FCF
FY 2025	—	$613.3M	—	—	—	$268.8M
FY 2024	—	$433.3M	—	—	—	$168.2M
FY 2023	—	$323.1M	—	—	—	$120.2M

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

NCV // BETA —

JCAP // BETA —