| Stage | MAR | % of rev | LVS | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $7.0B | 100.00% | $3.2B | 100.00% | MAR ×2.18 |
| Gross profit | $1.5B | 22.03% | $1.4B | 44.96% | LVS +22.9pp |
| Operating income | $1.3B | 18.19% | $618M | 19.22% | LVS +1.0pp |
| Pre-tax income | $1.1B | 15.13% | $454M | 14.12% | MAR +1.0pp |
| Net income | $794M | 11.33% | $352M | 10.95% | MAR +0.4pp |
| Stage | MAR | LVS | Gap · A − B |
|---|---|---|---|
| Revenue | $7.0B100.00% | $3.2B100.00% | MAR ×2.18 |
| Gross profit | 22.03%$1.5B | 44.96%$1.4B | LVS +22.9pp |
| Operating income | 18.19%$1.3B | 19.22%$618M | LVS +1.0pp |
| Pre-tax income | 15.13%$1.1B | 14.12%$454M | MAR +1.0pp |
| Net income |
| 11.33%$794M |
| 10.95%$352M |
| MAR +0.4pp |
No disclosed counterparties: LVS.
None