COMP <GO>

SMCI vs XNDU // EV/EBITDA & P/E VALUATION

Super Micro Computer Inc. (NASDAQ) VS. Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ) • 15-METRIC TALLY: SMCI 2 — XNDU 0

■ METRIC PARITY

SMCI — Super Micro Computer Inc. ROARABLE C- • RQD 60/100

LAST: $34.43 (-3.85%) • MKT CAP: $22.62B

DES <GO> FA <GO> 10-K RED <GO>

valuation

20.1x

XNDU — Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares ROARABLE D • RQD 49/100

LAST: $3.11 (-3.11%) • MKT CAP: $946.1M

DES <GO> FA <GO> 10-K RED <GO>

valuation

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

INSTITUTIONAL METRIC	SMCI	XNDU	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	11.10%	—	—	TIE	/gross-margins <GO>
Return on Invested Capital (ROIC)	8.40%	—	—	TIE	/roic <GO>
EV/EBITDA & P/E Valuation ACTIVE	20.1x	—	—	TIE	/valuation <GO>
Free Cash Flow Yield	6.77%	—	—	TIE	/fcf-yield <GO>
Operating Margin	5.70%	—	—	TIE	/operating-margins <GO>
Net Profit Margin	4.80%	—	—	TIE	/net-margins <GO>
Revenue Growth (YoY)	46.60%	—	—	TIE	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	0.00%	0.00%	0.00	TIE	/dividend-safety <GO>
Altman Z-Score & Debt/Equity	2.24	—	—	TIE	/balance-sheet <GO>
Piotroski F-Score Quality	6/9	—	—	TIE	/piotroski-score <GO>
Options Implied Move & Put/Call Skew	—	—	—	TIE	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	44.9	30.3	+14.57	SMCI	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta	1.42	—	—	TIE	/macro-sensitivity <GO>
Forward P/E Multiple	18.1x	—	—	TIE	/forward-pe <GO>
Enterprise Scale & Market Cap	$22.62B	$946.1M	$21.67B	SMCI	/market-cap <GO>

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

FISCAL YEAR	SMCI REV	XNDU REV	SMCI GROSS %	XNDU GROSS %	SMCI FCF	XNDU FCF
FY 2025	$21.97B	$0	11.1%	—	$1.53B	—
FY 2024	$14.99B	—	13.8%	—	-$2.61B	—
FY 2023	$7.12B	—	—	—	$343.0M	—

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

SMCI // BETA 1.42

XNDU // BETA —