| Stage | ECL | % of rev | XYL | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $4.7B | 100.00% | $2.2B | 100.00% | ECL ×2.13 |
| Gross profit | $2.1B | 44.08% | $907M | 41.21% | ECL +2.9pp |
| Operating income | $811M | 17.26% | $385M | 17.49% | XYL +0.2pp |
| Pre-tax income | $695M | 14.79% | $365M | 16.58% | XYL +1.8pp |
| Net income | $554M | 11.81% | $288M | 13.08% | XYL +1.3pp |
| Stage | ECL | XYL | Gap · A − B |
|---|---|---|---|
| Revenue | $4.7B100.00% | $2.2B100.00% | ECL ×2.13 |
| Gross profit | 44.08%$2.1B | 41.21%$907M | ECL +2.9pp |
| Operating income | 17.26%$811M | 17.49%$385M | XYL +0.2pp |
| Pre-tax income | 14.79%$695M | 16.58%$365M | XYL +1.8pp |
| Net income |
| 11.81%$554M |
| 13.08%$288M |
| XYL +1.3pp |
No disclosed counterparties: ECL, XYL.