| Stage | ITW | % of rev | CAT | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $4.2B | 100.00% | $20.5B | 100.00% | CAT ×4.85 |
| Gross profit | $1.9B | 45.09% | $7.8B | 37.78% | ITW +7.3pp |
| Operating income | $1.2B | 27.79% | $4.3B | 20.91% | ITW +6.9pp |
| Pre-tax income | $1.1B | 26.70% | $4.6B | 22.19% | ITW +4.5pp |
| Net income | $855M | 20.18% | $3.6B | 17.49% | ITW +2.7pp |
| Stage | ITW | CAT | Gap · A − B |
|---|---|---|---|
| Revenue | $4.2B100.00% | $20.5B100.00% | CAT ×4.85 |
| Gross profit | 45.09%$1.9B | 37.78%$7.8B | ITW +7.3pp |
| Operating income | 27.79%$1.2B | 20.91%$4.3B | ITW +6.9pp |
| Pre-tax income | 26.70%$1.1B | 22.19%$4.6B | ITW +4.5pp |
| Net income |
| 20.18%$855M |
| 17.49%$3.6B |
| ITW +2.7pp |
None
No disclosed counterparties: ITW.