COMP <GO>

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

TAL Education Group (NYSE) VS. New Oriental Education & Technology Group Inc. Sponsored ADR representing 10 Ordinary Share (Cayman Islands) (NYSE) • 15-METRIC TALLY: TAL 7 — EDU 7

▲ 10Y YIELD & FRED MACRO BETA LEADER: TAL

TAL — TAL Education Group SUPERIOR ROARABLE C+ • RQD 67/100

LAST: $9.87 (-2.66%) • MKT CAP: $5.62B

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

macro-sensitivity

1.09

EDU — New Oriental Education & Technology Group Inc. Sponsored ADR representing 10 Ordinary Share (Cayman Islands) ROARABLE B- • RQD 71/100

LAST: $48.68 (-0.84%) • MKT CAP: $7.61B

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

macro-sensitivity

0.96

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

INSTITUTIONAL METRIC	TAL	EDU	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	55.40%	54.60%	+0.80	TAL	/gross-margins <GO>
Return on Invested Capital (ROIC)	12.40%	21.30%	-8.90	EDU	/roic <GO>
EV/EBITDA & P/E Valuation	16.5x	9.3x	+7.20	EDU	/valuation <GO>
Free Cash Flow Yield	9.04%	10.25%	-1.21	EDU	/fcf-yield <GO>
Operating Margin	9.20%	11.40%	-2.20	EDU	/operating-margins <GO>
Net Profit Margin	17.60%	8.40%	+9.20	TAL	/net-margins <GO>
Revenue Growth (YoY)	33.70%	15.50%	+18.20	TAL	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	3.40%	1.27%	+2.13	TAL	/dividend-safety <GO>
Altman Z-Score & Debt/Equity	4.29	4.92	-0.63	EDU	/balance-sheet <GO>
Piotroski F-Score Quality	9/9	9/9	0.00	TIE	/piotroski-score <GO>
Options Implied Move & Put/Call Skew	7.20%	6.80%	+0.40	EDU	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	25.1	24.9	+0.22	TAL	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta ACTIVE	1.09	0.96	+0.13	TAL	/macro-sensitivity <GO>
Forward P/E Multiple	8.9x	13.4x	-4.50	TAL	/forward-pe <GO>
Enterprise Scale & Market Cap	$5.62B	$7.61B	-$1.99B	EDU	/market-cap <GO>

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

FISCAL YEAR	TAL REV	EDU REV	TAL GROSS %	EDU GROSS %	TAL FCF	EDU FCF
FY 2025	$3.01B	$5.66B	55.4%	54.6%	$508.3M	$780.2M
FY 2024	$2.25B	$4.90B	53.3%	55.4%	$286.2M	$654.7M
FY 2023	$1.49B	$4.31B	44.0%	44.0%	$239.1M	$928.5M

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

TAL // BETA 1.09

EDU // BETA 0.96