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