| Stage | PM | % of rev | MO | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $11.4B | 100.00% | $6.1B | 100.00% | PM ×1.87 |
| Gross profit | $7.9B | 68.67% | $3.9B | 64.27% | PM +4.4pp |
| Operating income | $4.9B | 42.54% | $3.3B | 54.03% | MO +11.5pp |
| Pre-tax income | $4.6B | 40.16% | $3.3B | 53.65% | MO +13.5pp |
| Net income | $3.5B | 30.79% | $2.5B | 41.00% | MO +10.2pp |
| Stage | PM | MO | Gap · A − B |
|---|---|---|---|
| Revenue | $11.4B100.00% | $6.1B100.00% | PM ×1.87 |
| Gross profit | 68.67%$7.9B | 64.27%$3.9B | PM +4.4pp |
| Operating income | 42.54%$4.9B | 54.03%$3.3B | MO +11.5pp |
| Pre-tax income | 40.16%$4.6B | 53.65%$3.3B | MO +13.5pp |
| Net income |
| 30.79%$3.5B |
| 41.00%$2.5B |
| MO +10.2pp |
No shared counterparties.