| Stage | ROP | % of rev | FNF | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $2.1B | 100.00% | $4.1B | 100.00% | FNF ×1.92 |
| Gross profit | $1.5B | 69.71% | $3.1B | 76.18% | FNF +6.5pp |
| Operating income | $585M | 27.73% | $1.6B | 39.00% | FNF +11.3pp |
| Pre-tax income | $1.3B | 62.02% | $338M | 8.34% | ROP +53.7pp |
| Net income | $1.2B | 55.41% | $276M | 6.81% | ROP +48.6pp |
| Stage | ROP | FNF | Gap · A − B |
|---|---|---|---|
| Revenue | $2.1B100.00% | $4.1B100.00% | FNF ×1.92 |
| Gross profit | 69.71%$1.5B | 76.18%$3.1B | FNF +6.5pp |
| Operating income | 27.73%$585M | 39.00%$1.6B | FNF +11.3pp |
| Pre-tax income | 62.02%$1.3B | 8.34%$338M | ROP +53.7pp |
| Net income |
| 55.41%$1.2B |
| 6.81%$276M |
| ROP +48.6pp |