COMP <GO>

STG vs EDU // 10Y YIELD & FRED MACRO BETA

Sunlands Technology Group representing (Class A) (NYSE) VS. New Oriental Education & Technology Group Inc. Sponsored ADR representing 10 Ordinary Share (Cayman Islands) (NYSE) • 15-METRIC TALLY: STG 5 — EDU 5

■ 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>

macro-sensitivity

—

EDU — New Oriental Education & Technology Group Inc. Sponsored ADR representing 10 Ordinary Share (Cayman Islands) ROARABLE B- • RQD 70/100

LAST: $49.09 (-3.21%) • MKT CAP: $7.61B

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

macro-sensitivity

0.96

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

INSTITUTIONAL METRIC	STG	EDU	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	86.90%	54.60%	+32.30	STG	/gross-margins <GO>
Return on Invested Capital (ROIC)	80.40%	21.30%	+59.10	STG	/roic <GO>
EV/EBITDA & P/E Valuation	—	9.3x	—	TIE	/valuation <GO>
Free Cash Flow Yield	—	10.25%	—	TIE	/fcf-yield <GO>
Operating Margin	18.60%	11.40%	+7.20	STG	/operating-margins <GO>
Net Profit Margin	18.10%	8.40%	+9.70	STG	/net-margins <GO>
Revenue Growth (YoY)	5.90%	15.50%	-9.60	EDU	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	0.00%	1.27%	-1.27	EDU	/dividend-safety <GO>
Altman Z-Score & Debt/Equity	0.79	4.92	-4.13	EDU	/balance-sheet <GO>
Piotroski F-Score Quality	8/9	9/9	-1.00	EDU	/piotroski-score <GO>
Options Implied Move & Put/Call Skew	—	—	—	TIE	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	33.2	26.9	+6.26	STG	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta ACTIVE	—	0.96	—	TIE	/macro-sensitivity <GO>
Forward P/E Multiple	—	13.4x	—	TIE	/forward-pe <GO>
Enterprise Scale & Market Cap	$32.7M	$7.61B	-$7.58B	EDU	/market-cap <GO>

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

FISCAL YEAR	STG REV	EDU REV	STG GROSS %	EDU GROSS %	STG FCF	EDU FCF
FY 2025	$288.8M	$5.66B	86.9%	54.6%	$21.0M	$780.2M
FY 2024	$272.7M	$4.90B	84.0%	55.4%	$26.8M	$654.7M
FY 2023	$304.2M	$4.31B	—	—	$19.8M	$928.5M

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

STG // BETA —

EDU // BETA 0.96