Revenue flow

Margins

Stage	ROK	% of rev	IEX	% of rev	Gap · A − B
Revenue	$2.3B	100.00%	$952M	100.00%	ROK ×2.43
Gross profit	$1.1B	49.46%	$430M	45.13%	ROK +4.3pp
Operating income	$481M	20.80%	$208M	21.86%	IEX +1.1pp
Pre-tax income	$470M	20.32%	$193M	20.25%	ROK +0.1pp
Net income	$408M	17.64%	$144M	15.13%	ROK +2.5pp

Stage	ROK	IEX	Gap · A − B
Revenue	$2.3B100.00%	$952M100.00%	ROK ×2.43
Gross profit	49.46%$1.1B	45.13%$430M	ROK +4.3pp
Operating income	20.80%$481M	21.86%$208M	IEX +1.1pp
Pre-tax income	20.32%$470M	20.25%$193M	ROK +0.1pp
Net income