| Stage | MGM | % of rev | MAR | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $4.2B | 100.00% | $7.0B | 100.00% | MAR ×1.66 |
| Gross profit | $1.7B | 41.16% | $1.5B | 22.03% | MGM +19.1pp |
| Operating income | $119M | 2.82% | $1.3B | 18.19% | MAR +15.4pp |
| Pre-tax income | $22M | 0.52% | $1.1B | 15.13% | MAR +14.6pp |
| Net income | $39M | 0.93% | $794M | 11.33% | MAR +10.4pp |
| Stage | MGM | MAR | Gap · A − B |
|---|---|---|---|
| Revenue | $4.2B100.00% | $7.0B100.00% | MAR ×1.66 |
| Gross profit | 41.16%$1.7B | 22.03%$1.5B | MGM +19.1pp |
| Operating income | 2.82%$119M | 18.19%$1.3B | MAR +15.4pp |
| Pre-tax income | 0.52%$22M | 15.13%$1.1B | MAR +14.6pp |
| Net income |
| 0.93%$39M |
| 11.33%$794M |
| MAR +10.4pp |