| Stage | ACA | % of rev | VMI | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $659M | 100.00% | $1.1B | 100.00% | VMI ×1.68 |
| Gross profit | $156M | 23.64% | $331M | 30.02% | VMI +6.4pp |
| Operating income | $84M | 12.80% | $173M | 15.66% | VMI +2.9pp |
| Pre-tax income | $62M | 9.46% | $163M | 14.79% | VMI +5.3pp |
| Net income | $329M | 49.87% | $121M | 11.00% | ACA +38.9pp |
| Stage | ACA | VMI | Gap · A − B |
|---|---|---|---|
| Revenue | $659M100.00% | $1.1B100.00% | VMI ×1.68 |
| Gross profit | 23.64%$156M | 30.02%$331M | VMI +6.4pp |
| Operating income | 12.80%$84M | 15.66%$173M | VMI +2.9pp |
| Pre-tax income | 9.46%$62M | 14.79%$163M | VMI +5.3pp |
| Net income |
| 49.87%$329M |
| 11.00%$121M |
| ACA +38.9pp |