| Stage | RCL | % of rev | FCN | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $5.6B | 100.00% | $1.0B | 100.00% | RCL ×5.52 |
| Gross profit | $2.9B | 51.51% | $351M | 34.64% | RCL +16.9pp |
| Operating income | $1.9B | 33.46% | $90M | 8.87% | RCL +24.6pp |
| Pre-tax income | $1.8B | 31.51% | $77M | 7.63% | RCL +23.9pp |
| Net income | $1.7B | 31.03% | $63M | 6.27% | RCL +24.8pp |
| Stage | RCL | FCN | Gap · A − B |
|---|---|---|---|
| Revenue | $5.6B100.00% | $1.0B100.00% | RCL ×5.52 |
| Gross profit | 51.51%$2.9B | 34.64%$351M | RCL +16.9pp |
| Operating income | 33.46%$1.9B | 8.87%$90M | RCL +24.6pp |
| Pre-tax income | 31.51%$1.8B | 7.63%$77M | RCL +23.9pp |
| Net income |
| 31.03%$1.7B |
| 6.27%$63M |
| RCL +24.8pp |
No disclosed counterparties: RCL, FCN.