| Stage | FSS | % of rev | CSW | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $656M | 100.00% | $361M | 100.00% | FSS ×1.81 |
| Gross profit | $189M | 28.86% | $152M | 42.03% | CSW +13.2pp |
| Operating income | $111M | 16.99% | $76M | 20.90% | CSW +3.9pp |
| Pre-tax income | $105M | 16.03% | $63M | 17.46% | CSW +1.4pp |
| Net income | $80M | 12.14% | $48M | 13.25% | CSW +1.1pp |
| Stage | FSS | CSW | Gap · A − B |
|---|---|---|---|
| Revenue | $656M100.00% | $361M100.00% | FSS ×1.81 |
| Gross profit | 28.86%$189M | 42.03%$152M | CSW +13.2pp |
| Operating income | 16.99%$111M | 20.90%$76M | CSW +3.9pp |
| Pre-tax income | 16.03%$105M | 17.46%$63M | CSW +1.4pp |
| Net income |
| 12.14%$80M |
| 13.25%$48M |
| CSW +1.1pp |
No disclosed counterparties: FSS, CSW.