COMP <GO>

STG vs BN // EV/EBITDA & P/E VALUATION

Sunlands Technology Group representing (Class A) (NYSE) VS. Brookfield Corporation Class A Limited Voting Shares (NYSE) • 15-METRIC TALLY: STG 5 — BN 4

■ METRIC PARITY

STG — Sunlands Technology Group representing (Class A) ROARABLE D • RQD 51/100

LAST: $2.44 (0.00%) • MKT CAP: $32.7M

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

valuation

—

BN — Brookfield Corporation Class A Limited Voting Shares ROARABLE D+ • RQD 58/100

LAST: $39.50 (+2.62%) • MKT CAP: $96.80B

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

valuation

21.0x

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

INSTITUTIONAL METRIC	STG	BN	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	86.90%	—	—	TIE	/gross-margins <GO>
Return on Invested Capital (ROIC)	80.40%	9.90%	+70.50	STG	/roic <GO>
EV/EBITDA & P/E Valuation ACTIVE	—	21.0x	—	TIE	/valuation <GO>
Free Cash Flow Yield	—	2.21%	—	TIE	/fcf-yield <GO>
Operating Margin	18.60%	13.90%	+4.70	STG	/operating-margins <GO>
Net Profit Margin	18.10%	10.90%	+7.20	STG	/net-margins <GO>
Revenue Growth (YoY)	5.90%	-1.10%	+7.00	STG	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	0.00%	3.40%	-3.40	BN	/dividend-safety <GO>
Altman Z-Score & Debt/Equity	0.79	3.74	-2.95	BN	/balance-sheet <GO>
Piotroski F-Score Quality	8/9	7/9	+1.00	STG	/piotroski-score <GO>
Options Implied Move & Put/Call Skew	—	—	—	TIE	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	33.2	65.1	-31.94	BN	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta	—	0.88	—	TIE	/macro-sensitivity <GO>
Forward P/E Multiple	—	30.5x	—	TIE	/forward-pe <GO>
Enterprise Scale & Market Cap	$32.7M	$96.80B	-$96.77B	BN	/market-cap <GO>

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

FISCAL YEAR	STG REV	BN REV	STG GROSS %	BN GROSS %	STG FCF	BN FCF
FY 2025	$288.8M	—	86.9%	—	$21.0M	—
FY 2024	$272.7M	—	84.0%	—	$26.8M	—
FY 2023	$304.2M	—	—	—	$19.8M	—

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

STG // BETA —

BN // BETA 0.88