| Stage | UI | % of rev | FTNT | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $1.0B | 100.00% | $2.1B | 100.00% | FTNT ×2.03 |
| Gross profit | $485M | 47.29% | $1.6B | 78.95% | FTNT +31.7pp |
| Operating income | $391M | 38.15% | $704M | 33.89% | UI +4.3pp |
| Pre-tax income | $398M | 38.75% | $755M | 36.33% | UI +2.4pp |
| Net income | $320M | 31.23% | $636M | 30.58% | UI +0.7pp |
| Stage | UI | FTNT | Gap · A − B |
|---|---|---|---|
| Revenue | $1.0B100.00% | $2.1B100.00% | FTNT ×2.03 |
| Gross profit | 47.29%$485M | 78.95%$1.6B | FTNT +31.7pp |
| Operating income | 38.15%$391M | 33.89%$704M | UI +4.3pp |
| Pre-tax income | 38.75%$398M | 36.33%$755M | UI +2.4pp |
| Net income | 31.23%$320M | 30.58%$636M | UI +0.7pp |
None
No disclosed counterparties: UI.