COMP <GO>

TWLO vs AAPL // 10Y YIELD & FRED MACRO BETA

Twilio Inc. (NYSE) VS. Apple Inc. (NASDAQ) • 15-METRIC TALLY: TWLO 2 — AAPL 12

▲ 10Y YIELD & FRED MACRO BETA LEADER: TWLO

LAST: $205.03 (-15.24%) • MKT CAP: $37.15B

macro-sensitivity

1.16

LAST: $344.63 (-1.23%) • MKT CAP: $5.03T

macro-sensitivity

1.14

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

INSTITUTIONAL METRIC	TWLO	AAPL	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	48.90%	48.65%	+0.25	TWLO	/gross-margins <GO>
Return on Invested Capital (ROIC)	1.60%	81.38%	-79.78	AAPL	/roic <GO>
EV/EBITDA & P/E Valuation	95.0x	30.1x	+64.89	AAPL	/valuation <GO>
Free Cash Flow Yield	2.09%	2.72%	-0.63	AAPL	/fcf-yield <GO>
Operating Margin	3.10%	33.17%	-30.07	AAPL	/operating-margins <GO>
Net Profit Margin	0.70%	27.62%	-26.92	AAPL	/net-margins <GO>
Revenue Growth (YoY)	13.70%	14.24%	-0.54	AAPL	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	0.00%	0.31%	-0.31	AAPL	/dividend-safety <GO>
Altman Z-Score & Debt/Equity	11.14	13.54	-2.40	AAPL	/balance-sheet <GO>
Piotroski F-Score Quality	9/9	9/9	0.00	TIE	/piotroski-score <GO>
Options Implied Move & Put/Call Skew	7.40%	5.76%	+1.64	AAPL	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	30.2	55.4	-25.13	AAPL	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta ACTIVE	1.16	1.14	+0.02	TWLO	/macro-sensitivity <GO>
Forward P/E Multiple	140.0x	35.3x	+104.66	AAPL	/forward-pe <GO>
Enterprise Scale & Market Cap	$37.15B	$5.03T	-$4.99T	AAPL	/market-cap <GO>

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

FISCAL YEAR	TWLO REV	AAPL REV	TWLO GROSS %	AAPL GROSS %	TWLO FCF	AAPL FCF
FY 2025	$5.07B	$416.16B	48.9%	46.9%	$775.2M	$98.77B
FY 2024	$4.46B	$391.04B	51.1%	46.2%	$515.6M	$108.81B
FY 2023	$4.15B	$383.29B	44.0%	44.1%	$227.8M	$99.58B
FY 2022	—	$394.33B	—	43.3%	—	$111.44B
FY 2021	—	$365.82B	—	41.8%	—	$92.95B

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

TWLO // BETA 1.16

AAPL // BETA 1.14