Rational Investing

	Total Market Capitalization of All Firms	$318,617 mm
	Average Market Capitalization	$13,276 mm
	Average Market to Model Ratio Weighted by Log of Market Cap	1.1
	Standard Deviation of MM Ratio	0.7
	Average Beta	1.3
	Average EV To Revenue	1.3
	Average EV To EBITDAM	24.6
	Average Price To Free Cash Flow	28.9

Ticker	Company Name	Market To Model	Market Cap ($ mm)	EV to Revenue	Price To FCF	EV/EBITDAM	% Growth	Beta	As Of
6505.TW	Formosa Petrochemical Corp	3.50	37,665	0.2	28.2	19.8	5	0.7	Dec 20
CLNE	Clean Energy Fuels Corp.	2.78	2,265	7.2	11	40	13	1.7	Mar 21
MPC	Marathon Petroleum Corporation	1.87	41,404	1.1	63.4	40	-4	2.0	Mar 21
5019	Idemitsu Kosan Co	1.26	7,407	0.2	16.8	7.3	11	0.9	Dec 20
UGP	Ultrapar Participacoes SA	1.24	4,551	0.5	4.1	26.3	3	1.1	Dec 20
010950.KS	S-Oil Corp	1.13	10,414	1.2	11.1	16.2	23	0.9	Mar 21
ALD.AX	Ampol Limited	1.10	5,715	0.4	29.7	6.3	10	1.3	Dec 20
KCHOL.IS	Koc Holding AS	1.10	5,896	1.2	19.4	26.5	28	1.1	Mar 21
PSX	Phillips 66	1.10	40,028	1.0	91.6	40	6	1.6	Mar 21
PKI.TO	Parkland Fuel Corp	0.99	5,135	0.7	35.8	12.8	4	1.6	Mar 21
034730.KS	SK Holdings Co., Ltd	0.95	17,845	0.6	99	10.2	4	1.1	Mar 21
DCC.L	DCC PLC	0.79	8,387	0.7	21.5	40	5	0.9	Mar 21
INT	World Fuel Services Corp.	0.77	2,321	0.1	34.5	16.6	13	1.3	Mar 21
NESTE.HE	Neste Oyj	0.75	51,187	3.7	29.9	18.6	22	1.0	Mar 21
GLP	Global Partners Lp	0.73	922	0.2	3.7	5.0	10	1.4	Mar 21
HFC	Holly Frontier Corporation	0.72	5,943	0.7	34.8	40	16	1.7	Mar 21
PBF	PBF Energy Inc	0.64	1,996	5.3	2	26.3	7	2.7	Mar 21
VLO	Valero Energy Corp	0.62	34,185	0.7	81.9	40	6	2.0	Mar 21
CVI	CVR Energy, Inc.	0.60	2,356	0.8	8.6	8.0	28	1.9	Mar 21
IEP	Icahn Enterprises, L.p.	0.55	14,187	2.3	25.3	40	35	0.9	Mar 21
5020	JX Holdings Inc	0.50	14,455	0.4	10.9	23.9	-23	1.1	Dec 20
DK	Delek Us Holdings Inc.	0.49	1,825	0.6	23.8	40	23	2.0	Mar 21
VVO.L	Vivo Energy PLC	0.48	1,588	0.3	2	40	-1	0.9	Dec 20
SPH	Suburban Propane Partners Lp	0.45	937	1.6	4.0	5.8	21	0.7	Mar 21