| Stage | FE | % of rev | NEE | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $4.6B | 100.00% | $8.1B | 100.00% | NEE ×1.78 |
| Gross profit | $2.9B | 63.57% | $4.3B | 52.53% | FE +11.0pp |
| Operating income | $935M | 20.52% | $2.6B | 32.44% | NEE +11.9pp |
| Pre-tax income | $684M | 15.01% | $5.0B | 62.16% | NEE +47.2pp |
| Net income | $615M | 13.50% | $4.4B | 53.98% | NEE +40.5pp |
| Stage | FE | NEE | Gap · A − B |
|---|---|---|---|
| Revenue | $4.6B100.00% | $8.1B100.00% | NEE ×1.78 |
| Gross profit | 63.57%$2.9B | 52.53%$4.3B | FE +11.0pp |
| Operating income | 20.52%$935M | 32.44%$2.6B | NEE +11.9pp |
| Pre-tax income | 15.01%$684M | 62.16%$5.0B | NEE +47.2pp |
| Net income |
| 13.50%$615M |
| 53.98%$4.4B |
| NEE +40.5pp |
None
No disclosed counterparties: FE.