| Stage | RCL | % of rev | INSW | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $5.6B | 100.00% | $470M | 100.00% | RCL ×11.90 |
| Gross profit | $2.9B | 51.51% | $470M | 100.00% | INSW +48.5pp |
| Operating income | $1.9B | 33.46% | $301M | 64.15% | INSW +30.7pp |
| Pre-tax income | $1.8B | 31.51% | $295M | 62.79% | INSW +31.3pp |
| Net income | $1.7B | 31.03% | $295M | 62.79% | INSW +31.8pp |
| Stage | RCL | INSW | Gap · A − B |
|---|---|---|---|
| Revenue | $5.6B100.00% | $470M100.00% | RCL ×11.90 |
| Gross profit | 51.51%$2.9B | 100.00%$470M | INSW +48.5pp |
| Operating income | 33.46%$1.9B | 64.15%$301M | INSW +30.7pp |
| Pre-tax income | 31.51%$1.8B | 62.79%$295M | INSW +31.3pp |
| Net income |
| 31.03%$1.7B |
| 62.79%$295M |
| INSW +31.8pp |
No disclosed counterparties: RCL, INSW.