| Stage | FTV | % of rev | AVTR | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $1.1B | 100.00% | $1.7B | 100.00% | AVTR ×1.53 |
| Gross profit | $711M | 64.16% | $535M | 31.49% | FTV +32.7pp |
| Operating income | $236M | 21.30% | $140M | 8.21% | FTV +13.1pp |
| Pre-tax income | $202M | 18.27% | $98M | 5.77% | FTV +12.5pp |
| Net income | $173M | 15.58% | $203M | 11.98% | FTV +3.6pp |
| Stage | FTV | AVTR | Gap · A − B |
|---|---|---|---|
| Revenue | $1.1B100.00% | $1.7B100.00% | AVTR ×1.53 |
| Gross profit | 64.16%$711M | 31.49%$535M | FTV +32.7pp |
| Operating income | 21.30%$236M | 8.21%$140M | FTV +13.1pp |
| Pre-tax income | 18.27%$202M | 5.77%$98M | FTV +12.5pp |
| Net income |
| 15.58%$173M |
| 11.98%$203M |
| FTV +3.6pp |