COMP <GO>

RYAAY vs LTM // EV/EBITDA & P/E VALUATION

Ryanair Holdings plc (NASDAQ) VS. LATAM Airlines Group S.A. American (NYSE) • 15-METRIC TALLY: RYAAY 4 — LTM 1

■ METRIC PARITY

LAST: $53.72 (+0.62%) • MKT CAP: $28.10B

valuation

21.0x

LAST: $42.38 (-3.59%) • MKT CAP: $12.62B

valuation

21.0x

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

INSTITUTIONAL METRIC	RYAAY	LTM	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	—	—	—	TIE	/gross-margins <GO>
Return on Invested Capital (ROIC)	9.90%	9.90%	0.00	TIE	/roic <GO>
EV/EBITDA & P/E Valuation ACTIVE	21.0x	21.0x	0.00	TIE	/valuation <GO>
Free Cash Flow Yield	2.21%	2.21%	0.00	TIE	/fcf-yield <GO>
Operating Margin	13.90%	13.90%	0.00	TIE	/operating-margins <GO>
Net Profit Margin	10.90%	10.90%	0.00	TIE	/net-margins <GO>
Revenue Growth (YoY)	23.10%	8.80%	+14.30	RYAAY	/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	3.74	0.00	TIE	/balance-sheet <GO>
Piotroski F-Score Quality	8/9	8/9	0.00	TIE	/piotroski-score <GO>
Options Implied Move & Put/Call Skew	—	—	—	TIE	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	48.4	37.8	+10.60	RYAAY	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta	0.90	1.05	-0.15	LTM	/macro-sensitivity <GO>
Forward P/E Multiple	27.6x	30.5x	-2.90	RYAAY	/forward-pe <GO>
Enterprise Scale & Market Cap	$28.10B	$12.62B	$15.47B	RYAAY	/market-cap <GO>

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

FISCAL YEAR	RYAAY REV	LTM REV	RYAAY GROSS %	LTM GROSS %	RYAAY FCF	LTM FCF
INSPECT INDIVIDUAL XBRL MODELS AT RYAAY FA <GO> AND LTM FA <GO>.

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

RYAAY // BETA 0.90

LTM // BETA 1.05