| Stage | MSA | % of rev | CSW | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $503M | 100.00% | $361M | 100.00% | MSA ×1.39 |
| Gross profit | $249M | 49.53% | $152M | 42.03% | MSA +7.5pp |
| Operating income | $112M | 22.24% | $76M | 20.90% | MSA +1.3pp |
| Pre-tax income | $111M | 22.13% | $63M | 17.46% | MSA +4.7pp |
| Net income | $86M | 17.12% | $48M | 13.25% | MSA +3.9pp |
| Stage | MSA | CSW | Gap · A − B |
|---|---|---|---|
| Revenue | $503M100.00% | $361M100.00% | MSA ×1.39 |
| Gross profit | 49.53%$249M | 42.03%$152M | MSA +7.5pp |
| Operating income | 22.24%$112M | 20.90%$76M | MSA +1.3pp |
| Pre-tax income | 22.13%$111M | 17.46%$63M | MSA +4.7pp |
| Net income |
| 17.12%$86M |
| 13.25%$48M |
| MSA +3.9pp |
No disclosed counterparties: CSW.
None