| Stage | RCL | % of rev | TDG | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $5.6B | 100.00% | $2.7B | 100.00% | RCL ×2.04 |
| Gross profit | $2.9B | 51.51% | $1.6B | 59.39% | TDG +7.9pp |
| Operating income | $1.9B | 33.46% | $1.2B | 44.76% | TDG +11.3pp |
| Pre-tax income | $1.8B | 31.51% | $713M | 26.01% | RCL +5.5pp |
| Net income | $1.7B | 31.03% | $540M | 19.70% | RCL +11.3pp |
| Stage | RCL | TDG | Gap · A − B |
|---|---|---|---|
| Revenue | $5.6B100.00% | $2.7B100.00% | RCL ×2.04 |
| Gross profit | 51.51%$2.9B | 59.39%$1.6B | TDG +7.9pp |
| Operating income | 33.46%$1.9B | 44.76%$1.2B | TDG +11.3pp |
| Pre-tax income | 31.51%$1.8B | 26.01%$713M | RCL +5.5pp |
| Net income |
| 31.03%$1.7B |
| 19.70%$540M |
| RCL +11.3pp |
None
No disclosed counterparties: RCL.