COMP <GO>
BGIN vs BKKT // EV/EBITDA & P/E VALUATION
Bgin Blockchain Limited (Class A) (NASDAQ) VS. Bakkt Inc. (Class A) (NYSE) • 15-METRIC TALLY: BGIN 3
— BKKT 4
■ METRIC PARITY
LAST: $1.78 (+1.14%) • MKT CAP: $199.1M
valuation
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LAST: $4.40 (-5.17%) • MKT CAP: $209.1M
valuation
—
15-METRIC INSTITUTIONAL SIDE-BY-SIDE SCORECARD (BGIN VS. BKKT)
EMERALD CELL = QUANTITATIVE EDGE
| INSTITUTIONAL METRIC | BGIN | BKKT | SPREAD (A - B) | ADVANTAGE | DEDICATED URL |
|---|---|---|---|---|---|
| Gross Profit Margin | — | — | — | TIE | /gross-margins <GO> |
| Return on Invested Capital (ROIC) | -35.00% | -35.00% | 0.00 | TIE | /roic <GO> |
| EV/EBITDA & P/E Valuation ACTIVE | — | — | — | TIE | /valuation <GO> |
| Free Cash Flow Yield | — | — | — | TIE | /fcf-yield <GO> |
| Operating Margin | -60.00% | -6.30% | -53.70 | BKKT | /operating-margins <GO> |
| Net Profit Margin | -60.00% | -4.60% | -55.40 | BKKT | /net-margins <GO> |
| Revenue Growth (YoY) | -65.00% | -32.10% | -32.90 | BKKT | /revenue-growth <GO> |
| Dividend Yield & FCF Payout Safety | 1.97% | 0.00% | +1.97 | BGIN | /dividend-safety <GO> |
| Altman Z-Score & Debt/Equity | — | — | — | TIE | /balance-sheet <GO> |
| Piotroski F-Score Quality | 2/9 | 1/9 | +1.00 | BGIN | /piotroski-score <GO> |
| Options Implied Move & Put/Call Skew | — | — | — | TIE | /options-implied-move <GO> |
| RSI-14 & 200D SMA Momentum | 41.1 | 31.7 | +9.40 | BGIN | /rsi-technicals <GO> |
| 10Y Yield & FRED Macro Beta | — | — | — | TIE | /macro-sensitivity <GO> |
| Forward P/E Multiple | — | — | — | TIE | /forward-pe <GO> |
| Enterprise Scale & Market Cap | $199.1M | $209.1M | -$10.0M | BKKT | /market-cap <GO> |
5-YEAR HISTORICAL XBRL REVENUE & MARGIN TRAJECTORY SEC FORM 10-K FY
| FISCAL YEAR | BGIN REV | BKKT REV | BGIN GROSS % | BKKT GROSS % | BGIN FCF | BKKT FCF |
|---|---|---|---|---|---|---|
| FY 2025 | $67.4M | $2.34B | — | — | -$171.1M | -$153.4M |
| FY 2024 | $302.3M | $3.44B | — | — | -$212.3M | -$21.2M |
| FY 2023 | $257.3M | $727.0M | — | — | -$31.3M | -$60.7M |
FRED MACRO REGIME CORRELATION COMPARISON PEARSON r
BGIN // BETA —
BKKT // BETA —