| Stage | LUV | % of rev | UNH | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $8.4B | 100.00% | $113B | 100.00% | UNH ×13.38 |
| Gross profit | $2.4B | 28.79% | $22.0B | 19.53% | LUV +9.3pp |
| Operating income | $379M | 4.50% | $6.6B | 5.82% | UNH +1.3pp |
| Pre-tax income | $355M | 4.22% | $5.5B | 4.90% | UNH +0.7pp |
| Net income | $270M | 3.21% | $4.3B | 3.82% | UNH +0.6pp |
| Stage | LUV | UNH | Gap · A − B |
|---|---|---|---|
| Revenue | $8.4B100.00% | $113B100.00% | UNH ×13.38 |
| Gross profit | 28.79%$2.4B | 19.53%$22.0B | LUV +9.3pp |
| Operating income | 4.50%$379M | 5.82%$6.6B | UNH +1.3pp |
| Pre-tax income | 4.22%$355M | 4.90%$5.5B | UNH +0.7pp |
| Net income | 3.21%$270M | 3.82%$4.3B | UNH +0.6pp |
None
No disclosed counterparties: LUV.