| Stage | RMD | % of rev | FTNT | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $1.4B | 100.00% | $2.1B | 100.00% | FTNT ×1.47 |
| Gross profit | $871M | 61.53% | $1.6B | 78.95% | FTNT +17.4pp |
| Operating income | $453M | 32.02% | $704M | 33.89% | FTNT +1.9pp |
| Pre-tax income | $539M | 38.11% | $755M | 36.33% | RMD +1.8pp |
| Net income | $418M | 29.57% | $636M | 30.58% | FTNT +1.0pp |
| Stage | RMD | FTNT | Gap · A − B |
|---|---|---|---|
| Revenue | $1.4B100.00% | $2.1B100.00% | FTNT ×1.47 |
| Gross profit | 61.53%$871M | 78.95%$1.6B | FTNT +17.4pp |
| Operating income | 32.02%$453M | 33.89%$704M | FTNT +1.9pp |
| Pre-tax income | 38.11%$539M | 36.33%$755M | RMD +1.8pp |
| Net income |
| 29.57%$418M |
| 30.58%$636M |
| FTNT +1.0pp |
None
No disclosed counterparties: RMD.