COMP <GO>

SIRI vs VZ // OPTIONS IMPLIED MOVE & PUT/CALL SKEW

SiriusXM Holdings Inc. (NASDAQ) VS. Verizon Communications Inc. (NYSE) • 15-METRIC TALLY: SIRI 4 — VZ 11

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

LAST: $29.01 (+1.19%) • MKT CAP: $9.66B

options-implied-move

6.50%

LAST: $44.73 (+2.45%) • MKT CAP: $181.40B

options-implied-move

6.90%

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

INSTITUTIONAL METRIC	SIRI	VZ	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	52.40%	41.00%	+11.40	SIRI	/gross-margins <GO>
Return on Invested Capital (ROIC)	6.40%	8.50%	-2.10	VZ	/roic <GO>
EV/EBITDA & P/E Valuation	8.0x	7.1x	+0.90	VZ	/valuation <GO>
Free Cash Flow Yield	12.88%	17.04%	-4.16	VZ	/fcf-yield <GO>
Operating Margin	17.20%	21.20%	-4.00	VZ	/operating-margins <GO>
Net Profit Margin	9.40%	12.70%	-3.30	VZ	/net-margins <GO>
Revenue Growth (YoY)	-1.60%	2.50%	-4.10	VZ	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	0.00%	6.33%	-6.33	VZ	/dividend-safety <GO>
Altman Z-Score & Debt/Equity	1.35	1.45	-0.10	VZ	/balance-sheet <GO>
Piotroski F-Score Quality	7/9	6/9	+1.00	SIRI	/piotroski-score <GO>
Options Implied Move & Put/Call Skew ACTIVE	6.50%	6.90%	-0.40	SIRI	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	68.6	48.7	+19.89	SIRI	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta	0.89	1.00	-0.11	VZ	/macro-sensitivity <GO>
Forward P/E Multiple	11.2x	9.6x	+1.60	VZ	/forward-pe <GO>
Enterprise Scale & Market Cap	$9.66B	$181.40B	-$171.73B	VZ	/market-cap <GO>

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

FISCAL YEAR	SIRI REV	VZ REV	SIRI GROSS %	VZ GROSS %	SIRI FCF	VZ FCF
FY 2025	$8.56B	$138.19B	52.4%	44.0%	$1.25B	$30.92B
FY 2024	$8.70B	$134.79B	53.1%	44.0%	$1.01B	$30.85B
FY 2023	$8.95B	$133.97B	44.0%	44.0%	$1.43B	$31.45B

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

SIRI // BETA 0.89

VZ // BETA 1.00