Revenue flow

Margins

Stage	PNRG	% of rev	EOG	% of rev	Gap · A − B
Revenue	$42M	100.00%	$8.3B	100.00%	EOG ×196.43
Gross profit	$41M	96.68%	$7.1B	85.72%	PNRG +11.0pp
Operating income	$8M	19.59%	$3.6B	43.17%	EOG +23.6pp
Pre-tax income	$8M	18.95%	$3.6B	42.90%	EOG +24.0pp
Net income	$7M	15.44%	$2.8B	33.48%	EOG +18.0pp

Stage	PNRG	EOG	Gap · A − B
Revenue	$42M100.00%	$8.3B100.00%	EOG ×196.43
Gross profit	96.68%$41M	85.72%$7.1B	PNRG +11.0pp
Operating income	19.59%$8M	43.17%$3.6B	EOG +23.6pp
Pre-tax income	18.95%$8M	42.90%$3.6B	EOG +24.0pp