COMP <GO>

PII vs V // OPTIONS IMPLIED MOVE & PUT/CALL SKEW

Polaris Inc. (NYSE) VS. Visa Inc. (NYSE) • 15-METRIC TALLY: PII 4 — V 10

▲ OPTIONS IMPLIED MOVE & PUT/CALL SKEW LEADER: V

LAST: $59.41 (-1.43%) • MKT CAP: $3.43B

options-implied-move

7.20%

LAST: $413.59 (+0.74%) • MKT CAP: $733.53B

options-implied-move

7.10%

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

INSTITUTIONAL METRIC	PII	V	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	19.10%	41.00%	-21.90	V	/gross-margins <GO>
Return on Invested Capital (ROIC)	-11.50%	32.30%	-43.80	V	/roic <GO>
EV/EBITDA & P/E Valuation	—	28.9x	—	TIE	/valuation <GO>
Free Cash Flow Yield	16.27%	2.90%	+13.37	PII	/fcf-yield <GO>
Operating Margin	-4.90%	60.00%	-64.90	V	/operating-margins <GO>
Net Profit Margin	-6.50%	50.10%	-56.60	V	/net-margins <GO>
Revenue Growth (YoY)	-0.30%	11.30%	-11.60	V	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	4.38%	0.63%	+3.75	PII	/dividend-safety <GO>
Altman Z-Score & Debt/Equity	1.59	9.09	-7.50	V	/balance-sheet <GO>
Piotroski F-Score Quality	3/9	9/9	-6.00	V	/piotroski-score <GO>
Options Implied Move & Put/Call Skew ACTIVE	7.20%	7.10%	+0.10	V	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	62.7	69.4	-6.76	V	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta	1.10	1.06	+0.04	PII	/macro-sensitivity <GO>
Forward P/E Multiple	24.0x	34.0x	-10.00	PII	/forward-pe <GO>
Enterprise Scale & Market Cap	$3.43B	$733.53B	-$730.10B	V	/market-cap <GO>

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

FISCAL YEAR	PII REV	V REV	PII GROSS %	V GROSS %	PII FCF	V FCF
FY 2025	$7.15B	$40.00B	19.1%	44.0%	$558.1M	$21.26B
FY 2024	$7.18B	$35.93B	20.4%	44.0%	$6.5M	$18.33B
FY 2023	$8.93B	$32.65B	44.0%	44.0%	$523.8M	$19.29B

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

PII // BETA 1.10

V // BETA 1.06