COMP <GO>

PEN vs LLY // 10Y YIELD & FRED MACRO BETA

Penumbra Inc. (NYSE) VS. Eli Lilly and Company (NYSE) • 15-METRIC TALLY: PEN 3 — LLY 11

▲ 10Y YIELD & FRED MACRO BETA LEADER: PEN

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

macro-sensitivity

0.91

LAST: $1,417.54 (+3.19%) • MKT CAP: $1.33T

macro-sensitivity

0.51

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

INSTITUTIONAL METRIC	PEN	LLY	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	67.10%	83.64%	-16.54	LLY	/gross-margins <GO>
Return on Invested Capital (ROIC)	10.60%	32.36%	-21.76	LLY	/roic <GO>
EV/EBITDA & P/E Valuation	52.0x	36.4x	+15.58	LLY	/valuation <GO>
Free Cash Flow Yield	1.38%	2.30%	-0.92	LLY	/fcf-yield <GO>
Operating Margin	13.50%	40.21%	-26.71	LLY	/operating-margins <GO>
Net Profit Margin	12.70%	31.90%	-19.20	LLY	/net-margins <GO>
Revenue Growth (YoY)	17.50%	45.51%	-28.01	LLY	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	0.00%	0.49%	-0.49	LLY	/dividend-safety <GO>
Altman Z-Score & Debt/Equity	21.05	9.29	+11.76	PEN	/balance-sheet <GO>
Piotroski F-Score Quality	9/9	9/9	0.00	TIE	/piotroski-score <GO>
Options Implied Move & Put/Call Skew	6.60%	6.77%	-0.17	PEN	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	44.7	77.9	-33.15	LLY	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta ACTIVE	0.91	0.51	+0.40	PEN	/macro-sensitivity <GO>
Forward P/E Multiple	60.0x	26.3x	+33.75	LLY	/forward-pe <GO>
Enterprise Scale & Market Cap	$12.68B	$1.33T	-$1.32T	LLY	/market-cap <GO>

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

FISCAL YEAR	PEN REV	LLY REV	PEN GROSS %	LLY GROSS %	PEN FCF	LLY FCF
FY 2025	$1.40B	$65.18B	67.1%	83.0%	$174.9M	$16.81B
FY 2024	$1.19B	$45.04B	63.2%	81.3%	$147.3M	$8.82B
FY 2023	$1.06B	$34.12B	44.0%	79.3%	$49.7M	$4.24B
FY 2022	—	$28.54B	—	76.8%	—	$7.59B
FY 2021	—	$28.32B	—	74.2%	—	$7.37B

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

PEN // BETA 0.91

LLY // BETA 0.51