COMP <GO>

PEN vs ABBV // DIVIDEND YIELD & FCF PAYOUT SAFETY

Penumbra Inc. (NYSE) VS. AbbVie Inc. (NYSE) • 15-METRIC TALLY: PEN 6 — ABBV 9

▲ DIVIDEND YIELD & FCF PAYOUT SAFETY LEADER: ABBV

LAST: $318.95 (-0.94%) • MKT CAP: $12.68B

dividend-safety

0.00%

LAST: $294.89 (+1.41%) • MKT CAP: $513.86B

dividend-safety

2.27%

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

INSTITUTIONAL METRIC	PEN	ABBV	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	67.10%	70.20%	-3.10	ABBV	/gross-margins <GO>
Return on Invested Capital (ROIC)	10.60%	29.00%	-18.40	ABBV	/roic <GO>
EV/EBITDA & P/E Valuation	52.0x	33.3x	+18.70	ABBV	/valuation <GO>
Free Cash Flow Yield	1.38%	3.47%	-2.09	ABBV	/fcf-yield <GO>
Operating Margin	13.50%	24.60%	-11.10	ABBV	/operating-margins <GO>
Net Profit Margin	12.70%	6.90%	+5.80	PEN	/net-margins <GO>
Revenue Growth (YoY)	17.50%	8.60%	+8.90	PEN	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety ACTIVE	0.00%	2.27%	-2.27	ABBV	/dividend-safety <GO>
Altman Z-Score & Debt/Equity	21.05	5.33	+15.72	PEN	/balance-sheet <GO>
Piotroski F-Score Quality	9/9	7/9	+2.00	PEN	/piotroski-score <GO>
Options Implied Move & Put/Call Skew	6.60%	7.40%	-0.80	PEN	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	44.7	72.8	-28.05	ABBV	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta	0.91	1.15	-0.24	ABBV	/macro-sensitivity <GO>
Forward P/E Multiple	60.0x	113.1x	-53.10	PEN	/forward-pe <GO>
Enterprise Scale & Market Cap	$12.68B	$513.86B	-$501.18B	ABBV	/market-cap <GO>

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

FISCAL YEAR	PEN REV	ABBV REV	PEN GROSS %	ABBV GROSS %	PEN FCF	ABBV FCF
FY 2025	$1.40B	$61.16B	67.1%	70.2%	$174.9M	$17.82B
FY 2024	$1.19B	$56.33B	63.2%	70.0%	$147.3M	$17.83B
FY 2023	$1.06B	$54.32B	44.0%	44.0%	$49.7M	$20.39B

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

PEN // BETA 0.91

ABBV // BETA 1.15