| Stage | PPG | % of rev | SPG | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $4.4B | 100.00% | $1.8B | 100.00% | PPG ×2.40 |
| Gross profit | $1.8B | 40.52% | $1.8B | 98.26% | SPG +57.7pp |
| Operating income | $653M | 15.00% | $804M | 44.33% | SPG +29.3pp |
| Pre-tax income | $631M | 14.50% | $418M | 23.04% | SPG +8.5pp |
| Net income | $456M | 10.48% | $565M | 31.15% | SPG +20.7pp |
| Stage | PPG | SPG | Gap · A − B |
|---|---|---|---|
| Revenue | $4.4B100.00% | $1.8B100.00% | PPG ×2.40 |
| Gross profit | 40.52%$1.8B | 98.26%$1.8B | SPG +57.7pp |
| Operating income | 15.00%$653M | 44.33%$804M | SPG +29.3pp |
| Pre-tax income | 14.50%$631M | 23.04%$418M | SPG +8.5pp |
| Net income |
| 10.48%$456M |
| 31.15%$565M |
| SPG +20.7pp |
No disclosed counterparties: SPG.
None