| Stage | CL | % of rev | ANET | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $5.4B | 100.00% | $3.0B | 100.00% | CL ×1.77 |
| Gross profit | $3.2B | 60.22% | $1.9B | 62.93% | ANET +2.7pp |
| Operating income | $1.1B | 20.26% | $1.4B | 45.39% | ANET +25.1pp |
| Pre-tax income | $1.0B | 18.98% | $1.5B | 49.55% | ANET +30.6pp |
| Net income | $779M | 14.51% | $1.2B | 39.95% | ANET +25.4pp |
| Stage | CL | ANET | Gap · A − B |
|---|---|---|---|
| Revenue | $5.4B100.00% | $3.0B100.00% | CL ×1.77 |
| Gross profit | 60.22%$3.2B | 62.93%$1.9B | ANET +2.7pp |
| Operating income | 20.26%$1.1B | 45.39%$1.4B | ANET +25.1pp |
| Pre-tax income | 18.98%$1.0B | 49.55%$1.5B | ANET +30.6pp |
| Net income |
| 14.51%$779M |
| 39.95%$1.2B |
| ANET +25.4pp |
No shared counterparties.