ROARABLE // PRO
GLOBAL DESKS // NYC --:--:-- NYSE
US TAPE
ROAR ▸

PONY // Pony AI Inc.

DES <GO> NASDAQ RQD COCKPIT → CIK 0001969302 ↗
Technology • EDP Services
$4.92 ▼ -0.13 (-2.57%)
MKT CAP: $2.13B • VOL: 2.53M
PONY // ROARABLE RATING & 5-PILLAR RQD CONFIDENCE 02:00 EST DETERMINISTIC ENGINE
PRIOR: RQD 28/100 [E] (+0 PT) • UNCHANGED
ROARABLE E
RQD CONFIDENCE
28 / 100 +0D
5 X 20-PT QUANT PILLARS
E 0 D 35 C 59 B 70 A 86+
Roarable Strong Sell — Forensic Risk / Avoid
01 MASSIVE / SEC XBRL
Forensic Fundamentals
5 / 20
CRITICAL
FCF -48.9% vs NI +51.1% • ROIC-WACC -23.8% • Z 11.57
02 INSTITUTIONAL TAPE & TREND
Whale & Options Flow
6 / 20
CRITICAL
52W RANGE 35% • VS 200D -4.8% • RSI 39.8
03 SEC XBRL CAPITAL ALLOCATION
Insider & Capital Conviction
[LOCKED] FLAGGED
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04 FRED 90D r-MATRIX
Macro Regime Fit
6 / 20
CRITICAL
HEADWIND • r(10Y)=+0.00 (+23bp) • r(OAS)=+0.00
05 10-K REDLINE AUDIT
Forensic 10-K Risk
[LOCKED] FLAGGED
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ALERT

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PONY // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: -50.15%▼ DESCENDING CHANNEL
2026-10-30O $4.78H $4.92L $4.54C $4.92VOL 4.76M
RES: $6.41SUP: $2.92SMA50: $6.34SMA200: $9.25
$15.54$12.56$9.58$6.60$3.61RES $6.41SUP $2.92$4.922026-04-302026-06-152026-07-312026-09-162026-10-30
PONY // INSTITUTIONAL BULL VS. BEAR FORENSIC DEBATE
UNDERWEIGHT CONVICTION: 38/100
BEAR 0
100 BULL

Pony AI Inc. (PONY) exhibits 15.7% gross margins and -15.2% return on invested capital within Technology (EDP Services), balanced against a 24.0x enterprise multiple and 4.8% implied options volatility.

▲ INSTITUTIONAL BULL THESIS (LONG)
01. Operating Leverage & Capital Efficiency Moat

Sustained 15.7% gross profitability converts into -60.0% operating margin and -15.2% ROIC, outpacing sector cost of capital.

ROIC: -15.2% // GM: 15.7%
02. Top-Line Expansion & Cash Conversion

YoY revenue trajectory of +20.0% paired with -7.73% free cash flow yield supports self-funded R&D and capital return.

REV YOY: +20.0% // FCF YLD: -7.73%
03. Balance Sheet Solvency & Forensic Quality

Altman Z-Score of 11.57 and Piotroski F-Score of 3/9 indicate low near-term refinancing stress.

ALTMAN Z: 11.57 // F-SCORE: 3/9
▼ INSTITUTIONAL BEAR THESIS (SHORT / RISK)
01. Multiple Compression & Duration Sensitivity

Trading at 24.0x trailing P/E (— Fwd P/E) leaves valuation vulnerable if real 10Y TIPS yields spike.

P/E: 24.0x // EV/EBITDA: —
02. Options Skew & Event Volatility Risk

Options market prices a ±5.2% implied move with a 0.85 put/call ratio around $4.92 max pain.

IMPL MOVE: ±5.2% // P/C: 0.85
03. Competitive Margin & CapEx Cycle Pressure

Elevated industry capital intensity and customer concentration in EDP Services require continuous execution to defend -60.0% net margins.

NET MARGIN: -60.0% // D/E: 0.45x
KEY CATALYST // Upcoming 10-Q/10-K XBRL margin progression, guidance revision vs — forward consensus, and institutional 13F positioning.
MACRO REGIME // Monitor US 10Y Real Yields (DFII10) and High-Yield Credit Spreads (OAS) for beta-adjusted multiple impact (Beta 1.10).
FORM 4 & 13F FLOW OPEN OWN <GO>
FILER SIDE $ VALUE
INSPECT FULL OWNERSHIP LEDGER IN OWN <GO>
UNUSUAL OPTIONS TAPE OPEN OPT <GO>
STRIKE / EXP TYPE PREMIUM
INSPECT GEX & CHAIN IN OPT <GO>
KEY VALUATION & PROFITABILITY RATIOS XBRL FA <GO>
TRAILING P/E —
FORWARD P/E —
EV / EBITDA —
FCF YIELD -7.73%
GROSS MARGIN 15.7%
OPERATING MARGIN -60.0%
NET MARGIN -60.0%
ROIC % -15.2%
REV GROWTH YOY +20.0%
DILUTED EPS TTM —
DEBT / EQUITY —
DIVIDEND YIELD 0.00%
RSI-14 MOMENTUM 26.6
5Y EQUITY BETA —
FRED MACRO SENSITIVITY (PEARSON r) ECST <GO>
MACRO CORRELATION CALIBRATION ACTIVE BELOW.
FRED MACRO REGIME STRESS-TEST SIMULATOR // PONYPEARSON R VARIANCE ENGINE
01 // SELECT FEDERAL RESERVE & CREDIT SHOCK SCENARIO
02 // POSITION NOTIONAL EXPOSURE
HEADLINE STRESS SCORE
75/100SEVERE DRAWDOWN PRESSURE
PRIMARY FACTOR EXPOSURE
DFII10 // -0.61 r
Latest: 2.08%
EST. DIRECTIONAL MOVE
-8.50%
Implied Px: $4.50
EST. DOLLAR VARIANCE
-$4,248
On $50,000 Notional
[LOCKED // MULTI-FACTOR DRAWDOWN HEDGE & MACRO TRIGGER ALERT]

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HEAD-TO-HEAD PEER COMPARISONS COMP <GO>