Rational Investing

	Total Market Capitalization of All Firms	$273,062 mm
	Average Market Capitalization	$11,872 mm
	Average Market to Model Ratio Weighted by Log of Market Cap	1.2
	Standard Deviation of MM Ratio	0.3
	Average Beta	1.3
	Average EV To Revenue	0.7
	Average EV To EBITDAM	28.3
	Average Price To Free Cash Flow	40.6

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	1.91	33,739	0.1	23.2	20.1	-31	0.7	Sep 20
ALD.AX	Ampol Limited	1.80	5,550	0.4	28.9	30	-7	1.2	Jun 20
VLO	Valero Energy Corp	1.70	24,325	0.5	58.3	30	-33	2.0	Sep 20
MPC	Marathon Petroleum Corporation	1.69	29,142	0.7	44	30	-25	2.0	Sep 20
NESTE.HE	Neste Oyj	1.41	56,150	4.5	35.5	23.2	-19	1.0	Sep 20
DK	Delek Us Holdings Inc.	1.33	1,536	0.5	20	30	-17	2.0	Sep 20
010950.KS	S-Oil Corp	1.19	7,684	0.3	99	30	-21	1.0	Sep 20
CTX.AX	Caltex Australia Limited	1.19	5,550	0.6	28.9	30	-13	1.1	Jun 20
DCC.L	DCC PLC	1.18	7,650	0.8	57.1	30	-14	0.9	Sep 20
CVI	CVR Energy, Inc.	1.15	1,860	0.7	18.5	37.3	-30	1.9	Sep 20
HFC	Holly Frontier Corporation	1.14	4,817	0.6	28.2	49.7	-27	1.8	Sep 20
034730.KS	SK Holdings Co., Ltd	1.09	18,096	0.6	99	30	-14	1.0	Sep 20
GLP	Global Partners Lp	1.09	592	0.3	17.4	30	-33	1.4	Sep 20
5020	JX Holdings Inc	1.04	13,928	0.4	99	30	-24	1.0	Sep 20
PBF	PBF Energy Inc	1.03	959	0.3	8	30	-54	2.7	Sep 20
5019	Idemitsu Kosan Co	0.93	7,129	0.3	99	30	-7	0.8	Sep 20
PKI.TO	Parkland Fuel Corp	0.88	4,760	0.6	41.4	19.7	-16	1.6	Sep 20
PSX	Phillips 66	0.88	33,216	0.9	71.7	30	-50	1.6	Sep 20
SPH	Suburban Propane Partners Lp	0.83	953	2.1	13.4	16.9	-7	0.7	Sep 20
KCHOL.IS	Koc Holding AS	0.82	7,268	0.4	4.7	5.1	16	1.1	Sep 20
INT	World Fuel Services Corp.	0.73	2,145	0.1	31.9	30	-36	1.2	Sep 20
VVO.L	Vivo Energy PLC	0.73	1,240	0.2	2	30	-5	0.9	Jun 20
UGP	Ultrapar Participacoes SA	0.64	4,774	0.7	4.3	30	-40	1.0	Sep 20