COMP <GO>

PEN vs JNJ // RETURN ON INVESTED CAPITAL (ROIC)

Penumbra Inc. (NYSE) VS. Johnson & Johnson (NYSE) • 15-METRIC TALLY: PEN 4 — JNJ 10

▲ RETURN ON INVESTED CAPITAL (ROIC) LEADER: JNJ

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

roic

10.60%

LAST: $273.20 (-0.73%) • MKT CAP: $662.49B

roic

25.50%

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

INSTITUTIONAL METRIC	PEN	JNJ	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	67.10%	67.90%	-0.80	JNJ	/gross-margins <GO>
Return on Invested Capital (ROIC) ACTIVE	10.60%	25.50%	-14.90	JNJ	/roic <GO>
EV/EBITDA & P/E Valuation	52.0x	18.5x	+33.50	JNJ	/valuation <GO>
Free Cash Flow Yield	1.38%	2.97%	-1.59	JNJ	/fcf-yield <GO>
Operating Margin	13.50%	34.70%	-21.20	JNJ	/operating-margins <GO>
Net Profit Margin	12.70%	28.50%	-15.80	JNJ	/net-margins <GO>
Revenue Growth (YoY)	17.50%	6.00%	+11.50	PEN	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	0.00%	0.00%	0.00	TIE	/dividend-safety <GO>
Altman Z-Score & Debt/Equity	21.05	5.59	+15.46	PEN	/balance-sheet <GO>
Piotroski F-Score Quality	9/9	8/9	+1.00	PEN	/piotroski-score <GO>
Options Implied Move & Put/Call Skew	6.60%	7.20%	-0.60	PEN	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	44.7	60.4	-15.62	JNJ	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta	0.91	1.08	-0.17	JNJ	/macro-sensitivity <GO>
Forward P/E Multiple	60.0x	23.0x	+37.00	JNJ	/forward-pe <GO>
Enterprise Scale & Market Cap	$12.68B	$662.49B	-$649.81B	JNJ	/market-cap <GO>

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

FISCAL YEAR	PEN REV	JNJ REV	PEN GROSS %	JNJ GROSS %	PEN FCF	JNJ FCF
FY 2025	$1.40B	$94.19B	67.1%	67.9%	$174.9M	$19.70B
FY 2024	$1.19B	$88.82B	63.2%	69.1%	$147.3M	$19.84B
FY 2023	$1.06B	$85.16B	44.0%	44.0%	$49.7M	$18.96B

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

PEN // BETA 0.91

JNJ // BETA 1.08