| Stage | BTSG | % of rev | AVAH | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $4.2B | 100.00% | $670M | 100.00% | BTSG ×6.28 |
| Gross profit | $519M | 12.31% | $219M | 32.59% | AVAH +20.3pp |
| Operating income | $160M | 3.81% | $80M | 11.93% | AVAH +8.1pp |
| Pre-tax income | $129M | 3.07% | $56M | 8.42% | AVAH +5.4pp |
| Net income | $100M | 2.38% | $40M | 6.01% | AVAH +3.6pp |
| Stage | BTSG | AVAH | Gap · A − B |
|---|---|---|---|
| Revenue | $4.2B100.00% | $670M100.00% | BTSG ×6.28 |
| Gross profit | 12.31%$519M | 32.59%$219M | AVAH +20.3pp |
| Operating income | 3.81%$160M | 11.93%$80M | AVAH +8.1pp |
| Pre-tax income | 3.07%$129M | 8.42%$56M | AVAH +5.4pp |
| Net income |
| 2.38%$100M |
| 6.01%$40M |
| AVAH +3.6pp |
No disclosed counterparties: AVAH.
None