| Stage | CSW | % of rev | CWST | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $361M | 100.00% | $544M | 100.00% | CWST ×1.50 |
| Gross profit | $152M | 42.03% | $179M | 32.88% | CSW +9.2pp |
| Operating income | $76M | 20.90% | $20M | 3.67% | CSW +17.2pp |
| Pre-tax income | $63M | 17.46% | $3M | 0.62% | CSW +16.8pp |
| Net income | $48M | 13.25% | $4M | 0.69% | CSW +12.6pp |
| Stage | CSW | CWST | Gap · A − B |
|---|---|---|---|
| Revenue | $361M100.00% | $544M100.00% | CWST ×1.50 |
| Gross profit | 42.03%$152M | 32.88%$179M | CSW +9.2pp |
| Operating income | 20.90%$76M | 3.67%$20M | CSW +17.2pp |
| Pre-tax income | 17.46%$63M | 0.62%$3M | CSW +16.8pp |
| Net income |
| 13.25%$48M |
| 0.69%$4M |
| CSW +12.6pp |
None
No disclosed counterparties: CSW.