| Stage | LAD | % of rev | ABG | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $9.9B | 100.00% | $4.4B | 100.00% | LAD ×2.25 |
| Gross profit | $1.5B | 15.04% | $732M | 16.57% | ABG +1.5pp |
| Operating income | $420M | 4.22% | $207M | 4.68% | ABG +0.5pp |
| Pre-tax income | $391M | 3.93% | $139M | 3.15% | LAD +0.8pp |
| Net income | $293M | 2.94% | $105M | 2.38% | LAD +0.6pp |
| Stage | LAD | ABG | Gap · A − B |
|---|---|---|---|
| Revenue | $9.9B100.00% | $4.4B100.00% | LAD ×2.25 |
| Gross profit | 15.04%$1.5B | 16.57%$732M | ABG +1.5pp |
| Operating income | 4.22%$420M | 4.68%$207M | ABG +0.5pp |
| Pre-tax income | 3.93%$391M | 3.15%$139M | LAD +0.8pp |
| Net income |
| 2.94%$293M |
| 2.38%$105M |
| LAD +0.6pp |
No disclosed counterparties: ABG.
None