| Stage | HRI | % of rev | FTAI | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $1.4B | 100.00% | $978M | 100.00% | HRI ×1.40 |
| Gross profit | $500M | 36.66% | $354M | 36.19% | HRI +0.5pp |
| Operating income | $247M | 18.11% | $219M | 22.39% | FTAI +4.3pp |
| Pre-tax income | $120M | 8.80% | $173M | 17.68% | FTAI +8.9pp |
| Net income | $104M | 7.62% | $151M | 15.40% | FTAI +7.8pp |
| Stage | HRI | FTAI | Gap · A − B |
|---|---|---|---|
| Revenue | $1.4B100.00% | $978M100.00% | HRI ×1.40 |
| Gross profit | 36.66%$500M | 36.19%$354M | HRI +0.5pp |
| Operating income | 18.11%$247M | 22.39%$219M | FTAI +4.3pp |
| Pre-tax income | 8.80%$120M | 17.68%$173M | FTAI +8.9pp |
| Net income |
| 7.62%$104M |
| 15.40%$151M |
| FTAI +7.8pp |
None
No disclosed counterparties: HRI.