COMP <GO>

ULCC vs AERO // EV/EBITDA & P/E VALUATION

Frontier Group Holdings Inc. (NASDAQ) VS. Grupo Aeromexico S.A.B. de C.V. (each representing ten (10) ) (NYSE) • 15-METRIC TALLY: ULCC 1 — AERO 1

■ METRIC PARITY

ULCC — Frontier Group Holdings Inc. ROARABLE D- • RQD 36/100

LAST: $6.48 (+5.02%) • MKT CAP: $1.49B

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

valuation

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AERO — Grupo Aeromexico S.A.B. de C.V. (each representing ten (10) ) ROARABLE D+ • RQD 58/100

LAST: $15.22 (+0.07%) • MKT CAP: $2.22B

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

valuation

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

INSTITUTIONAL METRIC	ULCC	AERO	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	—	—	—	TIE	/gross-margins <GO>
Return on Invested Capital (ROIC)	-35.00%	—	—	TIE	/roic <GO>
EV/EBITDA & P/E Valuation ACTIVE	—	—	—	TIE	/valuation <GO>
Free Cash Flow Yield	—	—	—	TIE	/fcf-yield <GO>
Operating Margin	-4.00%	—	—	TIE	/operating-margins <GO>
Net Profit Margin	-3.70%	—	—	TIE	/net-margins <GO>
Revenue Growth (YoY)	-1.40%	—	—	TIE	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	0.00%	0.00%	0.00	TIE	/dividend-safety <GO>
Altman Z-Score & Debt/Equity	0.40	—	—	TIE	/balance-sheet <GO>
Piotroski F-Score Quality	1/9	—	—	TIE	/piotroski-score <GO>
Options Implied Move & Put/Call Skew	—	—	—	TIE	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	62.9	46.1	+16.87	ULCC	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta	—	—	—	TIE	/macro-sensitivity <GO>
Forward P/E Multiple	—	—	—	TIE	/forward-pe <GO>
Enterprise Scale & Market Cap	$1.49B	$2.22B	-$727.5M	AERO	/market-cap <GO>

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

FISCAL YEAR	ULCC REV	AERO REV	ULCC GROSS %	AERO GROSS %	ULCC FCF	AERO FCF
FY 2025	$3.72B	—	—	—	-$525.0M	—
FY 2024	$3.77B	—	—	—	-$82.0M	—
FY 2023	$3.59B	—	—	—	-$261.0M	—

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

ULCC // BETA —

AERO // BETA —