COMP <GO>

PRGS vs NYAX // OPTIONS IMPLIED MOVE & PUT/CALL SKEW

Progress Software Corporation (NASDAQ) VS. Nayax Ltd. (NASDAQ) • 15-METRIC TALLY: PRGS 2 — NYAX 1

■ METRIC PARITY

LAST: $44.93 (+1.06%) • MKT CAP: $1.84B

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LAST: $50.28 (-0.02%) • MKT CAP: $1.88B

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

INSTITUTIONAL METRIC	PRGS	NYAX	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	80.80%	—	—	TIE	/gross-margins <GO>
Return on Invested Capital (ROIC)	8.50%	—	—	TIE	/roic <GO>
EV/EBITDA & P/E Valuation	17.6x	—	—	TIE	/valuation <GO>
Free Cash Flow Yield	12.50%	—	—	TIE	/fcf-yield <GO>
Operating Margin	15.70%	—	—	TIE	/operating-margins <GO>
Net Profit Margin	7.50%	—	—	TIE	/net-margins <GO>
Revenue Growth (YoY)	29.80%	—	—	TIE	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	0.04%	0.00%	+0.04	PRGS	/dividend-safety <GO>
Altman Z-Score & Debt/Equity	—	—	—	TIE	/balance-sheet <GO>
Piotroski F-Score Quality	7/9	—	—	TIE	/piotroski-score <GO>
Options Implied Move & Put/Call Skew ACTIVE	—	—	—	TIE	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	63.2	49.5	+13.69	PRGS	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta	—	—	—	TIE	/macro-sensitivity <GO>
Forward P/E Multiple	21.1x	—	—	TIE	/forward-pe <GO>
Enterprise Scale & Market Cap	$1.84B	$1.88B	-$41.9M	NYAX	/market-cap <GO>

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

FISCAL YEAR	PRGS REV	NYAX REV	PRGS GROSS %	NYAX GROSS %	PRGS FCF	NYAX FCF
FY 2025	$977.8M	—	80.8%	—	$229.5M	—
FY 2024	$753.4M	—	82.7%	—	$206.3M	—
FY 2023	$694.4M	—	—	—	$173.9M	—

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

PRGS // BETA —

NYAX // BETA —