I think you just need to go one level deeper in your Apply to each so that it first goes through each row in your spreadsheet, and checks the condition on each file in the folder. Like this:
However, doing this is going to be slow if there are a lot of items. You can speed this up by creating two arrays from your two sources. Follow your list rows action and list files actions with a select statement and put the value you want to compare as the selected item in each and give each a common name such as Row. For example:
Then your apply to each, you want the first Output to be the Output of the Select Excel. Then in your condition, the first part will use the Output of the Select Files and you will use the logic contains Current item:
I used a compose action in the Yes and No segments of the condition just to show that it works by outputting the value of the current item. To increase performance, turn on the concurrency control in the apply to each.
