| Stage | APC | % of rev | VRT | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $1.9B | 100.00% | $4.3B | 100.00% | VRT ×2.28 |
| Gross profit | $787M | 41.67% | $1.6B | 38.11% | APC +3.6pp |
| Operating income | $25M | 1.34% | $984M | 22.81% | VRT +21.5pp |
| Pre-tax income | $18M | 0.94% | $995M | 23.07% | VRT +22.1pp |
| Net income | $13M | 0.71% | $765M | 17.73% | VRT +17.0pp |
| Stage | APC | VRT | Gap · A − B |
|---|---|---|---|
| Revenue | $1.9B100.00% | $4.3B100.00% | VRT ×2.28 |
| Gross profit | 41.67%$787M | 38.11%$1.6B | APC +3.6pp |
| Operating income | 1.34%$25M | 22.81%$984M | VRT +21.5pp |
| Pre-tax income | 0.94%$18M | 23.07%$995M | VRT +22.1pp |
| Net income |
| 0.71%$13M |
| 17.73%$765M |
| VRT +17.0pp |