COMP <GO>

NI vs CEG // PIOTROSKI F-SCORE QUALITY

NiSource Inc (NYSE) VS. Constellation Energy Corporation Common Stock (NASDAQ) • 15-METRIC TALLY: NI 8 — CEG 6

▲ PIOTROSKI F-SCORE QUALITY LEADER: CEG

LAST: $44.57 (-0.40%) • MKT CAP: $21.47B

piotroski-score

7/9

LAST: $262.38 (-0.83%) • MKT CAP: $93.74B

piotroski-score

8/9

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

INSTITUTIONAL METRIC	NI	CEG	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	41.00%	41.00%	0.00	TIE	/gross-margins <GO>
Return on Invested Capital (ROIC)	8.80%	13.40%	-4.60	CEG	/roic <GO>
EV/EBITDA & P/E Valuation	6.8x	17.4x	-10.60	NI	/valuation <GO>
Free Cash Flow Yield	-1.96%	1.37%	-3.33	CEG	/fcf-yield <GO>
Operating Margin	28.10%	13.60%	+14.50	NI	/operating-margins <GO>
Net Profit Margin	14.30%	10.20%	+4.10	NI	/net-margins <GO>
Revenue Growth (YoY)	23.50%	19.50%	+4.00	NI	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	2.47%	0.52%	+1.95	NI	/dividend-safety <GO>
Altman Z-Score & Debt/Equity	1.05	2.13	-1.08	CEG	/balance-sheet <GO>
Piotroski F-Score Quality ACTIVE	7/9	8/9	-1.00	CEG	/piotroski-score <GO>
Options Implied Move & Put/Call Skew	6.10%	5.90%	+0.20	CEG	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	71.6	46.6	+25.01	NI	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta	0.75	0.71	+0.04	NI	/macro-sensitivity <GO>
Forward P/E Multiple	19.4x	33.9x	-14.50	NI	/forward-pe <GO>
Enterprise Scale & Market Cap	$21.47B	$93.74B	-$72.28B	CEG	/market-cap <GO>

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

FISCAL YEAR	NI REV	CEG REV	NI GROSS %	CEG GROSS %	NI FCF	CEG FCF
FY 2025	$6.52B	$22.66B	44.0%	44.0%	-$420.0M	$1.29B
FY 2024	$5.28B	$18.96B	44.0%	44.0%	-$832.5M	-$5.03B
FY 2023	$5.35B	$20.84B	44.0%	44.0%	$1.69B	-$6.24B

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

NI // BETA 0.75

CEG // BETA 0.71