COMP <GO>

ZBRA vs BRK-A // ALTMAN Z-SCORE & DEBT/EQUITY

Zebra Technologies Corporation (NASDAQ) VS. Berkshire Hathaway Inc. (NYSE) • 15-METRIC TALLY: ZBRA 6 — BRK-A 6

▲ ALTMAN Z-SCORE & DEBT/EQUITY LEADER: ZBRA

LAST: $361.26 (-4.27%) • MKT CAP: $17.85B

balance-sheet

3.95

LAST: $815,600.00 (-0.23%) • MKT CAP: $1.20T

balance-sheet

3.02

15-METRIC INSTITUTIONAL SIDE-BY-SIDE SCORECARD (ZBRA VS. BRK-A) EMERALD CELL = QUANTITATIVE EDGE

INSTITUTIONAL METRIC	ZBRA	BRK-A	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	48.10%	41.00%	+7.10	ZBRA	/gross-margins <GO>
Return on Invested Capital (ROIC)	9.50%	8.30%	+1.20	ZBRA	/roic <GO>
EV/EBITDA & P/E Valuation	26.0x	12.7x	+13.30	BRK-A	/valuation <GO>
Free Cash Flow Yield	4.65%	2.08%	+2.57	ZBRA	/fcf-yield <GO>
Operating Margin	13.00%	33.00%	-20.00	BRK-A	/operating-margins <GO>
Net Profit Margin	7.80%	27.10%	-19.30	BRK-A	/net-margins <GO>
Revenue Growth (YoY)	8.30%	-1.00%	+9.30	ZBRA	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	0.00%	0.00%	0.00	TIE	/dividend-safety <GO>
Altman Z-Score & Debt/Equity ACTIVE	3.95	3.02	+0.93	ZBRA	/balance-sheet <GO>
Piotroski F-Score Quality	7/9	6/9	+1.00	ZBRA	/piotroski-score <GO>
Options Implied Move & Put/Call Skew	7.30%	7.30%	0.00	TIE	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	40.1	67.2	-27.07	BRK-A	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta	1.13	1.13	0.00	TIE	/macro-sensitivity <GO>
Forward P/E Multiple	39.6x	16.7x	+22.90	BRK-A	/forward-pe <GO>
Enterprise Scale & Market Cap	$17.85B	$1.20T	-$1.18T	BRK-A	/market-cap <GO>

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

FISCAL YEAR	ZBRA REV	BRK-A REV	ZBRA GROSS %	BRK-A GROSS %	ZBRA FCF	BRK-A FCF
FY 2025	$5.40B	$247.24B	48.1%	44.0%	$831.0M	$25.04B
FY 2024	$4.98B	$249.71B	48.4%	44.0%	$954.0M	$11.62B
FY 2023	$4.58B	$254.91B	44.0%	44.0%	-$210.3M	$37.73B

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

ZBRA // BETA 1.13

BRK-A // BETA 1.13