COMP <GO>

NGG vs SHEL // PIOTROSKI F-SCORE QUALITY

National Grid Transco PLC National Grid PLC (NEW) (NYSE) VS. Shell PLC American (NYSE) • 15-METRIC TALLY: NGG 4 — SHEL 3

▲ PIOTROSKI F-SCORE QUALITY LEADER: NGG

LAST: $83.95 (-0.30%) • MKT CAP: $88.41B

piotroski-score

8/9

LAST: $108.69 (+0.95%) • MKT CAP: $297.82B

piotroski-score

7/9

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

INSTITUTIONAL METRIC	NGG	SHEL	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	41.00%	41.00%	0.00	TIE	/gross-margins <GO>
Return on Invested Capital (ROIC)	9.90%	9.90%	0.00	TIE	/roic <GO>
EV/EBITDA & P/E Valuation	21.0x	21.0x	0.00	TIE	/valuation <GO>
Free Cash Flow Yield	2.21%	2.21%	0.00	TIE	/fcf-yield <GO>
Operating Margin	13.90%	13.90%	0.00	TIE	/operating-margins <GO>
Net Profit Margin	10.90%	10.90%	0.00	TIE	/net-margins <GO>
Revenue Growth (YoY)	23.10%	3.30%	+19.80	NGG	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	0.00%	0.00%	0.00	TIE	/dividend-safety <GO>
Altman Z-Score & Debt/Equity	3.74	3.74	0.00	TIE	/balance-sheet <GO>
Piotroski F-Score Quality ACTIVE	8/9	7/9	+1.00	NGG	/piotroski-score <GO>
Options Implied Move & Put/Call Skew	6.50%	7.00%	-0.50	NGG	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	68.5	69.8	-1.24	SHEL	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta	0.88	1.02	-0.14	SHEL	/macro-sensitivity <GO>
Forward P/E Multiple	27.6x	30.5x	-2.90	NGG	/forward-pe <GO>
Enterprise Scale & Market Cap	$88.41B	$297.82B	-$209.42B	SHEL	/market-cap <GO>

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

FISCAL YEAR	NGG REV	SHEL REV	NGG GROSS %	SHEL GROSS %	NGG FCF	SHEL FCF
INSPECT INDIVIDUAL XBRL MODELS AT NGG FA <GO> AND SHEL FA <GO>.

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

NGG // BETA 0.88

SHEL // BETA 1.02