| Stage | V | % of rev | TNET | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $11.6B | 100.00% | $1.2B | 100.00% | V ×9.88 |
| Gross profit | $9.2B | 78.87% | $1.1B | 94.48% | TNET +15.6pp |
| Operating income | $6.9B | 59.12% | $74M | 6.28% | V +52.8pp |
| Pre-tax income | $6.8B | 58.74% | $74M | 6.28% | V +52.5pp |
| Net income | $5.6B | 48.38% | $53M | 4.50% | V +43.9pp |
| Stage | V | TNET | Gap · A − B |
|---|---|---|---|
| Revenue | $11.6B100.00% | $1.2B100.00% | V ×9.88 |
| Gross profit | 78.87%$9.2B | 94.48%$1.1B | TNET +15.6pp |
| Operating income | 59.12%$6.9B | 6.28%$74M | V +52.8pp |
| Pre-tax income | 58.74%$6.8B | 6.28%$74M | V +52.5pp |
| Net income | 48.38%$5.6B | 4.50%$53M | V +43.9pp |
No disclosed counterparties: TNET.
None