| Stage | ITW | % of rev | ZBRA | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $4.2B | 100.00% | $1.6B | 100.00% | ITW ×2.62 |
| Gross profit | $1.9B | 45.09% | $738M | 45.72% | ZBRA +0.6pp |
| Operating income | $1.2B | 27.79% | $237M | 14.68% | ITW +13.1pp |
| Pre-tax income | $1.1B | 26.70% | $198M | 12.27% | ITW +14.4pp |
| Net income | $855M | 20.18% | $164M | 10.16% | ITW +10.0pp |
| Stage | ITW | ZBRA | Gap · A − B |
|---|---|---|---|
| Revenue | $4.2B100.00% | $1.6B100.00% | ITW ×2.62 |
| Gross profit | 45.09%$1.9B | 45.72%$738M | ZBRA +0.6pp |
| Operating income | 27.79%$1.2B | 14.68%$237M | ITW +13.1pp |
| Pre-tax income | 26.70%$1.1B | 12.27%$198M | ITW +14.4pp |
| Net income |
| 20.18%$855M |
| 10.16%$164M |
| ITW +10.0pp |
None
No disclosed counterparties: ITW.