| Stage | CBOE | % of rev | VLTO | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $1.4B | 100.00% | $1.5B | 100.00% | VLTO ×1.11 |
| Gross profit | $712M | 52.41% | $908M | 60.17% | VLTO +7.8pp |
| Operating income | $534M | 39.32% | $298M | 19.75% | CBOE +19.6pp |
| Pre-tax income | $555M | 40.81% | $273M | 18.09% | CBOE +22.7pp |
| Net income | $428M | 31.51% | $253M | 16.77% | CBOE +14.7pp |
| Stage | CBOE | VLTO | Gap · A − B |
|---|---|---|---|
| Revenue | $1.4B100.00% | $1.5B100.00% | VLTO ×1.11 |
| Gross profit | 52.41%$712M | 60.17%$908M | VLTO +7.8pp |
| Operating income | 39.32%$534M | 19.75%$298M | CBOE +19.6pp |
| Pre-tax income | 40.81%$555M | 18.09%$273M | CBOE +22.7pp |
| Net income |
| 31.51%$428M |
| 16.77%$253M |
| CBOE +14.7pp |
No disclosed counterparties: VLTO.
None