COMP <GO>

UNTY vs BWB // FREE CASH FLOW YIELD

Unity Bancorp Inc. (NASDAQ) VS. Bridgewater Bancshares Inc. (NASDAQ) • 15-METRIC TALLY: UNTY 6 — BWB 0

▲ FREE CASH FLOW YIELD LEADER: UNTY

LAST: $58.90 (+2.77%) • MKT CAP: $591.5M

fcf-yield

7.60%

LAST: $20.62 (+2.03%) • MKT CAP: $577.7M

fcf-yield

3.87%

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

INSTITUTIONAL METRIC	UNTY	BWB	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	—	—	—	TIE	/gross-margins <GO>
Return on Invested Capital (ROIC)	16.80%	8.90%	+7.90	UNTY	/roic <GO>
EV/EBITDA & P/E Valuation	—	—	—	TIE	/valuation <GO>
Free Cash Flow Yield ACTIVE	7.60%	3.87%	+3.73	UNTY	/fcf-yield <GO>
Operating Margin	—	—	—	TIE	/operating-margins <GO>
Net Profit Margin	—	—	—	TIE	/net-margins <GO>
Revenue Growth (YoY)	—	—	—	TIE	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	0.96%	0.00%	+0.96	UNTY	/dividend-safety <GO>
Altman Z-Score & Debt/Equity	—	—	—	TIE	/balance-sheet <GO>
Piotroski F-Score Quality	4/9	4/9	0.00	TIE	/piotroski-score <GO>
Options Implied Move & Put/Call Skew	—	—	—	TIE	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	59.9	52.6	+7.30	UNTY	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta	—	—	—	TIE	/macro-sensitivity <GO>
Forward P/E Multiple	9.4x	11.4x	-2.00	UNTY	/forward-pe <GO>
Enterprise Scale & Market Cap	$591.5M	$577.7M	$13.9M	UNTY	/market-cap <GO>

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

FISCAL YEAR	UNTY REV	BWB REV	UNTY GROSS %	BWB GROSS %	UNTY FCF	BWB FCF
FY 2025	$1.25B	$2.27B	—	—	$44.3M	$22.0M
FY 2024	$1.11B	$2.13B	—	—	$47.3M	$42.3M
FY 2023	$178.7M	$179.8M	—	—	$46.9M	$30.0M

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

UNTY // BETA —

BWB // BETA —