| Stage | CSW | % of rev | ROAD | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $361M | 100.00% | $999M | 100.00% | ROAD ×2.77 |
| Gross profit | $152M | 42.03% | $168M | 16.85% | CSW +25.2pp |
| Operating income | $76M | 20.90% | $109M | 10.94% | CSW +10.0pp |
| Pre-tax income | $63M | 17.46% | $79M | 7.92% | CSW +9.5pp |
| Net income | $48M | 13.25% | $60M | 5.96% | CSW +7.3pp |
| Stage | CSW | ROAD | Gap · A − B |
|---|---|---|---|
| Revenue | $361M100.00% | $999M100.00% | ROAD ×2.77 |
| Gross profit | 42.03%$152M | 16.85%$168M | CSW +25.2pp |
| Operating income | 20.90%$76M | 10.94%$109M | CSW +10.0pp |
| Pre-tax income | 17.46%$63M | 7.92%$79M | CSW +9.5pp |
| Net income |
| 13.25%$48M |
| 5.96%$60M |
| CSW +7.3pp |
No disclosed counterparties: CSW, ROAD.