Rational Investing

	Total Market Capitalization of All Firms	$209,772 mm
	Average Market Capitalization	$11,041 mm
	Average Market to Model Ratio Weighted by Log of Market Cap	0.8
	Standard Deviation of MM Ratio	0.3
	Average Beta	1.1
	Average EV To Revenue	0.6
	Average EV To EBITDAM	25.4
	Average Price To Free Cash Flow	38.8

Ticker	Company Name	Market To Model	Market Cap ($ mm)	EV to Revenue	Price To FCF	EV/EBITDAM	% Growth	Beta	As Of
HUBG	Hub Group Inc.	1.36	1,514	0.5	74.0	43.9	-4	1.4	Dec 19
TFII.TO	TFI International	1.32	1,747	0.7	11.5	16.7	3	1.1	Dec 19
EXPD	Expeditors International	1.21	11,541	1.4	21.2	20.1	1	0.8	Dec 19
9301	Mitsubishi Logistics Corp	1.12	1,747	0.4	28.4	30	2	1.2	Dec 19
CHRW	C.h. Robinson Worldwide Inc	1.08	9,307	0.7	37.7	24.5	3	0.7	Dec 19
9075	Fukuyama Transporting Co Ltd	1.03	1,879	0.4	50.1	30	2	0.5	Dec 19
9064	YAMATO HOLDINGS CO. LTD.	0.92	7,184	0.1	30.2	33.7	3	0.6	Dec 19
FDX	Fedex Corp	0.80	28,459	0.7	-19.3	30	6	1.6	Feb 20
ATSG	Air Transport Services Group	0.79	1,028	1.4	-36.0	46.3	26	1.0	Dec 19
UPS	United Parcel Service Inc	0.76	77,468	1.4	84.2	18.1	6	1.0	Dec 19
9303	The Sumitomo Warehouse Co., Lt	0.73	925	0.4	16.9	41.4	8	1.0	Dec 19
BPOST.BR	bpost NV	0.71	1,342	0.8	4.0	5.9	3	1.0	Dec 19
9076	SEINO HOLDINGS CO. LTD	0.62	2,270	0.2	34.5	32.3	3	1.1	Dec 19
9062	NIPPON EXPRESS CO. LTD.	0.61	4,380	0.3	-48.2	30	-1	0.8	Dec 19
DPW.DE	Deutsche Post AG	0.60	32,499	0.8	13.1	14.3	6	1.0	Dec 19
XPO	XPO Logistics Inc	0.58	4,836	0.6	14.5	8.0	2	2.2	Dec 19
DSV.CO	DSV A/S	0.50	17,743	0.3	-23.2	11.1	31	1.0	Dec 19
9065	Sankyu Inc	0.47	2,371	0.1	24.0	15.5	5	1.1	Dec 19
RMG.L	Royal Mail PLC	0.36	1,531	0.2	137.0	30	9	1.1	Sep 19