| Stage | MD | % of rev | EHC | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $501M | 100.00% | $1.6B | 100.00% | EHC ×3.19 |
| Gross profit | $501M | 100.00% | $762M | 47.73% | MD +52.3pp |
| Operating income | $65M | 13.01% | $288M | 18.05% | EHC +5.0pp |
| Pre-tax income | $65M | 12.96% | $262M | 16.38% | EHC +3.4pp |
| Net income | $47M | 9.37% | $207M | 12.98% | EHC +3.6pp |
| Stage | MD | EHC | Gap · A − B |
|---|---|---|---|
| Revenue | $501M100.00% | $1.6B100.00% | EHC ×3.19 |
| Gross profit | 100.00%$501M | 47.73%$762M | MD +52.3pp |
| Operating income | 13.01%$65M | 18.05%$288M | EHC +5.0pp |
| Pre-tax income | 12.96%$65M | 16.38%$262M | EHC +3.4pp |
| Net income | 9.37%$47M | 12.98%$207M | EHC +3.6pp |
None
No disclosed counterparties: MD.