COMP <GO>

RACE vs TSLA // OPTIONS IMPLIED MOVE & PUT/CALL SKEW

Ferrari N.V. (NYSE) VS. Tesla, Inc. (NASDAQ) • 15-METRIC TALLY: RACE 10 — TSLA 4

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

LAST: $395.99 (-0.95%) • MKT CAP: $93.52B

options-implied-move

7.40%

LAST: $399.81 (-0.87%) • MKT CAP: $1.58T

options-implied-move

8.72%

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

INSTITUTIONAL METRIC	RACE	TSLA	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	41.00%	19.29%	+21.71	RACE	/gross-margins <GO>
Return on Invested Capital (ROIC)	9.90%	3.39%	+6.51	RACE	/roic <GO>
EV/EBITDA & P/E Valuation	21.0x	199.0x	-178.04	RACE	/valuation <GO>
Free Cash Flow Yield	2.21%	0.21%	+2.00	RACE	/fcf-yield <GO>
Operating Margin	13.90%	3.35%	+10.55	RACE	/operating-margins <GO>
Net Profit Margin	10.90%	3.11%	+7.79	RACE	/net-margins <GO>
Revenue Growth (YoY)	13.20%	8.30%	+4.90	RACE	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	0.00%	0.00%	0.00	TIE	/dividend-safety <GO>
Altman Z-Score & Debt/Equity	3.74	15.35	-11.61	TSLA	/balance-sheet <GO>
Piotroski F-Score Quality	8/9	5/9	+3.00	RACE	/piotroski-score <GO>
Options Implied Move & Put/Call Skew ACTIVE	7.40%	8.72%	-1.32	RACE	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	49.6	60.9	-11.30	TSLA	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta	1.15	1.89	-0.74	TSLA	/macro-sensitivity <GO>
Forward P/E Multiple	27.6x	174.4x	-146.83	RACE	/forward-pe <GO>
Enterprise Scale & Market Cap	$93.52B	$1.58T	-$1.49T	TSLA	/market-cap <GO>

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

FISCAL YEAR	RACE REV	TSLA REV	RACE GROSS %	TSLA GROSS %	RACE FCF	TSLA FCF
FY 2025	—	$94.83B	—	18.0%	—	$6.22B
FY 2024	—	$97.69B	—	17.9%	—	$3.58B
FY 2023	—	$96.77B	—	18.3%	—	$4.36B
FY 2022	—	$81.46B	—	25.6%	—	$7.57B
FY 2021	—	$53.82B	—	25.3%	—	$5.01B

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

RACE // BETA 1.15

TSLA // BETA 1.89