| Stage | MSI | % of rev | EXE | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $3.4B | 100.00% | $3.3B | 100.00% | MSI ×1.03 |
| Gross profit | $1.8B | 52.37% | $1.6B | 47.23% | MSI +5.1pp |
| Operating income | $777M | 23.02% | $640M | 19.48% | MSI +3.5pp |
| Pre-tax income | $678M | 20.08% | $608M | 18.50% | MSI +1.6pp |
| Net income | $514M | 15.23% | $519M | 15.79% | EXE +0.6pp |
| Stage | MSI | EXE | Gap · A − B |
|---|---|---|---|
| Revenue | $3.4B100.00% | $3.3B100.00% | MSI ×1.03 |
| Gross profit | 52.37%$1.8B | 47.23%$1.6B | MSI +5.1pp |
| Operating income | 23.02%$777M | 19.48%$640M | MSI +3.5pp |
| Pre-tax income | 20.08%$678M | 18.50%$608M | MSI +1.6pp |
| Net income |
| 15.23%$514M |
| 15.79%$519M |
| EXE +0.6pp |
No shared counterparties.