Revenue flow

Margins

Stage	EOG	% of rev	PNRG	% of rev	Gap · A − B
Revenue	$8.3B	100.00%	$42M	100.00%	EOG ×196.43
Gross profit	$7.1B	85.72%	$41M	96.68%	PNRG +11.0pp
Operating income	$3.6B	43.17%	$8M	19.59%	EOG +23.6pp
Pre-tax income	$3.6B	42.90%	$8M	18.95%	EOG +24.0pp
Net income	$2.8B	33.48%	$7M	15.44%	EOG +18.0pp

Stage	EOG	PNRG	Gap · A − B
Revenue	$8.3B100.00%	$42M100.00%	EOG ×196.43
Gross profit	85.72%$7.1B	96.68%$41M	PNRG +11.0pp
Operating income	43.17%$3.6B	19.59%$8M	EOG +23.6pp
Pre-tax income	42.90%$3.6B	18.95%$8M	EOG +24.0pp