Rational Investing

	Total Market Capitalization of All Firms	$487,240 mm
	Average Market Capitalization	$25,644 mm
	Average Market to Model Ratio Weighted by Log of Market Cap	1.2
	Standard Deviation of MM Ratio	0.4
	Average Beta	0.8
	Average EV To Revenue	3.1
	Average EV To EBITDAM	28.4
	Average Price To Free Cash Flow	32.3

Ticker	Company Name	Market To Model	Market Cap ($ mm)	EV to Revenue	Price To FCF	EV/EBITDAM	% Growth	Beta	As Of
PEG	Public Service Enterprise Grou	1.95	25,797	4.6	34.8	26.2	-4	0.7	Mar 20
D	Dominion Resources Inc.	1.90	68,209	5.3	85	22.7	23	0.7	Mar 20
CU.TO	Canadian Utilities Ltd	1.73	6,556	5.0	33	29.0	-18	0.7	Mar 20
IBE.MC	Iberdrola SA	1.54	69,600	3.1	9.7	22.5	-2	0.6	Mar 20
AES	The Aes Corp	1.39	8,290	3.3	12.5	30	-10	1.0	Mar 20
NGG	National Grid Plc	1.33	38,976	4.0	57.1	42.1	0	0.7	Sep 19
EXC	Exelon Corp.	1.31	37,187	2.5	17.9	18.4	-6	0.5	Mar 20
NG.L	National Grid	1.29	39,835	4.7	9.3	30	1	0.7	Sep 19
ACO-X.TO	ATCO Ltd	1.20	3,233	3.1	38.8	22.0	-11	0.9	Mar 20
EDP.LS	Energias de Portugal, S.A.	1.14	16,899	2.5	4.2	12.7	-5	1.1	Dec 19
EOAN.DE	E.on SE	1.02	27,656	1.2	9.5	30	44	0.7	Mar 20
BIP	Brookfield Infrastructure Part	0.99	13,336	4.8	40.7	34.2	29	0.9	Mar 20
SSE.L	SSE PLC	0.99	15,413	2.9	12.4	30	18	0.7	Sep 19
9508	Kyushu Electric Power Company,	0.98	3,922	1.6	99	30	1	0.8	Dec 19
SRE	Sempra Energy	0.91	34,658	5.8	99	39.0	-1	0.8	Mar 20
ENGI.PA	Engie SA	0.76	28,543	1.1	10.6	30	6	1.1	Dec 19
RWE.DE	RWE AG	0.63	20,173	2.0	29.8	14.8	2	0.9	Dec 19
CNA.L	Centrica Plc	0.46	2,558	0.3	2	30	10	1.5	Dec 19
EDF.PA	Electricite de France SA	0.39	26,395	1.5	8	45.4	7	0.9	Dec 19