| Stage | AROC | % of rev | WMB | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $371M | 100.00% | $3.2B | 100.00% | WMB ×8.69 |
| Gross profit | $248M | 66.83% | $2.6B | 80.39% | WMB +13.6pp |
| Operating income | $152M | 40.98% | $1.1B | 35.25% | AROC +5.7pp |
| Pre-tax income | $112M | 30.08% | $988M | 30.65% | WMB +0.6pp |
| Net income | $84M | 22.78% | $767M | 23.80% | WMB +1.0pp |
| Stage | AROC | WMB | Gap · A − B |
|---|---|---|---|
| Revenue | $371M100.00% | $3.2B100.00% | WMB ×8.69 |
| Gross profit | 66.83%$248M | 80.39%$2.6B | WMB +13.6pp |
| Operating income | 40.98%$152M | 35.25%$1.1B | AROC +5.7pp |
| Pre-tax income | 30.08%$112M | 30.65%$988M | WMB +0.6pp |
| Net income |
| 22.78%$84M |
| 23.80%$767M |
| WMB +1.0pp |
None
No disclosed counterparties: AROC.