| Stage | EMR | % of rev | EME | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $5.2B | 100.00% | $5.5B | 100.00% | EME ×1.07 |
| Gross profit | $2.7B | 52.68% | $1.1B | 20.00% | EMR +32.7pp |
| Operating income | $1.1B | 20.77% | $546M | 9.85% | EMR +10.9pp |
| Pre-tax income | $1.0B | 19.32% | $550M | 9.92% | EMR +9.4pp |
| Net income | $751M | 14.44% | $400M | 7.22% | EMR +7.2pp |
| Stage | EMR | EME | Gap · A − B |
|---|---|---|---|
| Revenue | $5.2B100.00% | $5.5B100.00% | EME ×1.07 |
| Gross profit | 52.68%$2.7B | 20.00%$1.1B | EMR +32.7pp |
| Operating income | 20.77%$1.1B | 9.85%$546M | EMR +10.9pp |
| Pre-tax income | 19.32%$1.0B | 9.92%$550M | EMR +9.4pp |
| Net income |
| 14.44%$751M |
| 7.22%$400M |
| EMR +7.2pp |
No disclosed counterparties: EMR, EME.