COMP <GO>

STLD vs FCX // PIOTROSKI F-SCORE QUALITY

Steel Dynamics Inc. (NASDAQ) VS. Freeport-McMoRan Inc. (NYSE) • 15-METRIC TALLY: STLD 5 — FCX 10

▲ PIOTROSKI F-SCORE QUALITY LEADER: FCX

LAST: $250.80 (-1.08%) • MKT CAP: $36.06B

piotroski-score

6/9

LAST: $62.47 (-5.55%) • MKT CAP: $94.98B

piotroski-score

7/9

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

INSTITUTIONAL METRIC	STLD	FCX	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	13.20%	26.10%	-12.90	FCX	/gross-margins <GO>
Return on Invested Capital (ROIC)	9.40%	21.50%	-12.10	FCX	/roic <GO>
EV/EBITDA & P/E Valuation	17.3x	13.4x	+3.90	FCX	/valuation <GO>
Free Cash Flow Yield	1.39%	4.71%	-3.32	FCX	/fcf-yield <GO>
Operating Margin	8.10%	25.90%	-17.80	FCX	/operating-margins <GO>
Net Profit Margin	6.50%	8.80%	-2.30	FCX	/net-margins <GO>
Revenue Growth (YoY)	3.60%	0.10%	+3.50	STLD	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	0.81%	0.91%	-0.10	FCX	/dividend-safety <GO>
Altman Z-Score & Debt/Equity	5.95	3.08	+2.87	STLD	/balance-sheet <GO>
Piotroski F-Score Quality ACTIVE	6/9	7/9	-1.00	FCX	/piotroski-score <GO>
Options Implied Move & Put/Call Skew	6.50%	6.70%	-0.20	STLD	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	59.2	30.2	+29.01	STLD	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta	0.87	0.95	-0.08	FCX	/macro-sensitivity <GO>
Forward P/E Multiple	28.3x	40.1x	-11.80	STLD	/forward-pe <GO>
Enterprise Scale & Market Cap	$36.06B	$94.98B	-$58.92B	FCX	/market-cap <GO>

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

FISCAL YEAR	STLD REV	FCX REV	STLD GROSS %	FCX GROSS %	STLD FCF	FCX FCF
FY 2025	$18.18B	$25.19B	13.2%	26.1%	$501.5M	$4.48B
FY 2024	$17.54B	$25.17B	16.0%	29.3%	-$23.5M	$6.03B
FY 2023	$18.80B	$22.70B	44.0%	44.0%	$2.67B	$4.26B

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

STLD // BETA 0.87

FCX // BETA 0.95