Rational Investing

	Total Market Capitalization of All Firms	$397,369 mm
	Average Market Capitalization	$16,557 mm
	Average Market to Model Ratio Weighted by Log of Market Cap	1.1
	Standard Deviation of MM Ratio	0.5
	Average Beta	1.1
	Average EV To Revenue	0.8
	Average EV To EBITDAM	24.2
	Average Price To Free Cash Flow	42.3

Ticker	Company Name	Market To Model	Market Cap ($ mm)	EV to Revenue	Price To FCF	EV/EBITDAM	% Growth	Beta	As Of
9062	NIPPON EXPRESS CO. LTD.	2.66	5,428	0.3	99	30	-7	0.9	Jun 20
9301	Mitsubishi Logistics Corp	2.04	2,518	0.5	36.5	30	-8	1.2	Jun 20
DSV.CO	DSV A/S	1.80	35,281	0.4	99	46.5	39	1.0	Mar 20
XPO	XPO Logistics Inc	1.71	9,390	0.9	24.9	25.1	-6	2.3	Mar 20
9065	Sankyu Inc	1.67	2,576	0.1	12.3	20.1	-2	1.1	Jun 20
DPW.DE	Deutsche Post AG	1.24	55,404	1.2	16.6	23.9	2	1.0	Mar 20
FDX	Fedex Corp	1.24	53,120	1.2	99	30.1	-1	1.3	May 20
9076	SEINO HOLDINGS CO. LTD	1.23	3,013	0.2	99	30	1	1.1	Mar 20
9075	Fukuyama Transporting Co Ltd	1.09	2,514	0.5	59.7	30	-2	0.6	Jun 20
BPOST.BR	bpost NV	1.08	1,914	0.9	5.5	11.7	8	1.1	Jun 20
CHRW	C.h. Robinson Worldwide Inc	1.08	12,990	1.0	68.8	23.3	-5	0.7	Jun 20
HUBG	Hub Group Inc.	1.04	1,841	0.7	35.5	27.6	-13	1.1	Jun 20
RMG.L	Royal Mail PLC	0.96	2,843	0.6	2.2	30	0	1.0	Mar 20
KNIN.SW	Kuehne & Nagel International A	0.92	21,907	1.2	29.9	32.6	-7	1.1	Jun 20
9303	The Sumitomo Warehouse Co., Lt	0.88	1,080	0.5	99	21.1	2	1.1	Mar 20
EXPD	Expeditors International	0.83	14,789	1.6	24.4	23.5	10	0.9	Jun 20
TFII.TO	TFI International	0.79	3,670	1.1	19.1	15.2	0	1.5	Mar 20
9064	YAMATO HOLDINGS CO. LTD.	0.78	10,671	0.1	28.6	23.4	1	0.5	Jun 20
PNL.AS	PostNL NV	0.75	1,342	0.9	2.4	6.5	3	1.4	Mar 20
ATSG	Air Transport Services Group	0.72	1,621	1.8	27.3	30.8	17	0.9	Jun 20
BOL.PA	Bollore SA	0.72	10,907	0.8	3.2	13.2	4	0.7	Dec 19
086280.KS	Hyundai Glovis Co Ltd	0.71	3,886	0.1	10.7	18.8	9	1.1	Mar 20
UPS	United Parcel Service Inc	0.66	137,110	2.1	99	30	9	1.0	Jun 20
AAWW	Atlas Air Worldwide Holdings I	0.61	1,553	1.3	12.7	8.6	10	1.1	Jun 20