Rational Investing

	Total Market Capitalization of All Firms	$509,613 mm
	Average Market Capitalization	$24,267 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	26.2
	Average Price To Free Cash Flow	28.4

Ticker	Company Name	Market To Model	Market Cap ($ mm)	EV to Revenue	Price To FCF	EV/EBITDAM	% Growth	Beta	As Of
NGG	National Grid Plc	1.78	36,506	4.4	53.5	30	-3	0.7	Mar 20
EXC	Exelon Corp.	1.71	33,916	2.4	34.8	44.3	-6	0.5	Jun 20
9508	Kyushu Electric Power Company,	1.70	4,415	1.7	99	30	1	0.6	Jun 20
AES	The Aes Corp	1.67	12,186	4.2	18.4	30	-10	1.0	Jun 20
SSE.L	SSE PLC	1.67	15,326	2.8	11.8	30	33	0.7	Mar 20
IBE.MC	Iberdrola SA	1.58	80,026	3.5	10.4	14.9	-5	0.6	Jun 20
EDF.PA	Electricite de France SA	1.47	29,776	1.7	8.4	39.2	-1	0.8	Jun 20
HER.MI	Hera S.p.A.	1.46	5,601	1.3	3.2	30	1	0.7	Jun 20
ENGI.PA	Engie SA	1.44	32,271	1.3	11.2	30	-11	1.0	Jun 20
CU.TO	Canadian Utilities Ltd	1.37	6,484	5.0	24.9	20.6	-18	0.7	Jun 20
ACO-X.TO	ATCO Ltd	1.22	3,328	3.2	25.1	13.8	-13	0.8	Jun 20
D	Dominion Resources Inc.	1.22	62,560	6.0	78	16.5	3	0.7	Jun 20
NG.L	National Grid	1.19	37,699	5.0	8.4	30	-2	0.8	Mar 20
CNA.L	Centrica Plc	0.98	2,885	0.3	2	30	-9	1.3	Jun 20
PEG	Public Service Enterprise Grou	0.94	25,863	4.6	34.9	26.2	-4	0.7	Jun 20
BIP	Brookfield Infrastructure Part	0.83	15,360	4.6	46.8	13.6	27	0.9	Jun 20
SRE	Sempra Energy	0.81	32,010	5.2	99	47.9	6	0.7	Jun 20
EOAN.DE	E.on SE	0.75	29,195	1.2	9.4	30	50	0.5	Jun 20
EDP.LS	Energias de Portugal, S.A.	0.57	17,872	2.8	4.2	23.8	-12	1.2	Jun 20
RWE.DE	RWE AG	0.57	21,895	2.2	10.7	9.8	-4	0.9	Mar 20
A2A.MI	A2A S.p.A.	0.39	4,437	1.2	2	9.7	-7	0.9	Jun 20