| Stage | MCD | % of rev | CAKE | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $7.1B | 100.00% | $1.0B | 100.00% | MCD ×6.87 |
| Gross profit | $4.3B | 60.30% | $674M | 65.19% | CAKE +4.9pp |
| Operating income | $3.3B | 47.02% | $75M | 7.25% | MCD +39.8pp |
| Pre-tax income | $2.9B | 41.36% | $73M | 7.10% | MCD +34.3pp |
| Net income | $2.4B | 33.27% | $61M | 5.93% | MCD +27.3pp |
| Stage | MCD | CAKE | Gap · A − B |
|---|---|---|---|
| Revenue | $7.1B100.00% | $1.0B100.00% | MCD ×6.87 |
| Gross profit | 60.30%$4.3B | 65.19%$674M | CAKE +4.9pp |
| Operating income | 47.02%$3.3B | 7.25%$75M | MCD +39.8pp |
| Pre-tax income | 41.36%$2.9B | 7.10%$73M | MCD +34.3pp |
| Net income |
| 33.27%$2.4B |
| 5.93%$61M |
| MCD +27.3pp |
No shared counterparties.