| Stage | ARQ | % of rev | CBT | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $38M | 100.00% | $982M | 100.00% | CBT ×25.70 |
| Gross profit | $15M | 39.70% | $184M | 18.74% | ARQ +21.0pp |
| Operating income | $3M | 8.18% | $98M | 9.98% | CBT +1.8pp |
| Pre-tax income | $3M | 6.55% | $58M | 5.91% | ARQ +0.6pp |
| Net income | $3M | 6.55% | $14M | 1.43% | ARQ +5.1pp |
| Stage | ARQ | CBT | Gap · A − B |
|---|---|---|---|
| Revenue | $38M100.00% | $982M100.00% | CBT ×25.70 |
| Gross profit | 39.70%$15M | 18.74%$184M | ARQ +21.0pp |
| Operating income | 8.18%$3M | 9.98%$98M | CBT +1.8pp |
| Pre-tax income | 6.55%$3M | 5.91%$58M | ARQ +0.6pp |
| Net income |
| 6.55%$3M |
| 1.43%$14M |
| ARQ +5.1pp |
No disclosed counterparties: CBT.
None