| Stage | FWRG | % of rev | MCD | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $350M | 100.00% | $7.1B | 100.00% | MCD ×20.29 |
| Gross profit | $216M | 61.86% | $4.3B | 60.30% | FWRG +1.6pp |
| Operating income | $11M | 3.16% | $3.3B | 47.02% | MCD +43.9pp |
| Pre-tax income | $6M | 1.85% | $2.9B | 41.36% | MCD +39.5pp |
| Net income | $5M | 1.37% | $2.4B | 33.27% | MCD +31.9pp |
| Stage | FWRG | MCD | Gap · A − B |
|---|---|---|---|
| Revenue | $350M100.00% | $7.1B100.00% | MCD ×20.29 |
| Gross profit | 61.86%$216M | 60.30%$4.3B | FWRG +1.6pp |
| Operating income | 3.16%$11M | 47.02%$3.3B | MCD +43.9pp |
| Pre-tax income | 1.85%$6M | 41.36%$2.9B | MCD +39.5pp |
| Net income |
| 1.37%$5M |
| 33.27%$2.4B |
| MCD +31.9pp |
None
No disclosed counterparties: FWRG.