| Stage | FE | % of rev | DHI | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $4.6B | 100.00% | $9.2B | 100.00% | DHI ×2.02 |
| Gross profit | $2.9B | 63.57% | $2.1B | 23.26% | FE +40.3pp |
| Operating income | $935M | 20.52% | $1.2B | 12.52% | FE +8.0pp |
| Pre-tax income | $684M | 15.01% | $1.2B | 13.29% | FE +1.7pp |
| Net income | $615M | 13.50% | $919M | 9.96% | FE +3.5pp |
| Stage | FE | DHI | Gap · A − B |
|---|---|---|---|
| Revenue | $4.6B100.00% | $9.2B100.00% | DHI ×2.02 |
| Gross profit | 63.57%$2.9B | 23.26%$2.1B | FE +40.3pp |
| Operating income | 20.52%$935M | 12.52%$1.2B | FE +8.0pp |
| Pre-tax income | 15.01%$684M | 13.29%$1.2B | FE +1.7pp |
| Net income |
| 13.50%$615M |
| 9.96%$919M |
| FE +3.5pp |
None
No disclosed counterparties: FE.