| Stage | MCD | % of rev | SHW | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $7.1B | 100.00% | $6.9B | 100.00% | MCD ×1.03 |
| Gross profit | $4.3B | 60.30% | $3.3B | 47.77% | MCD +12.5pp |
| Operating income | $3.3B | 47.02% | $1.2B | 17.53% | MCD +29.5pp |
| Pre-tax income | $2.9B | 41.36% | $1.1B | 15.50% | MCD +25.9pp |
| Net income | $2.4B | 33.27% | $821M | 11.97% | MCD +21.3pp |
| Stage | MCD | SHW | Gap · A − B |
|---|---|---|---|
| Revenue | $7.1B100.00% | $6.9B100.00% | MCD ×1.03 |
| Gross profit | 60.30%$4.3B | 47.77%$3.3B | MCD +12.5pp |
| Operating income | 47.02%$3.3B | 17.53%$1.2B | MCD +29.5pp |
| Pre-tax income | 41.36%$2.9B | 15.50%$1.1B | MCD +25.9pp |
| Net income |
| 33.27%$2.4B |
| 11.97%$821M |
| MCD +21.3pp |