| Stage | RCL | % of rev | TDW | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $5.6B | 100.00% | $342M | 100.00% | RCL ×16.33 |
| Gross profit | $2.9B | 51.51% | $342M | 100.00% | TDW +48.5pp |
| Operating income | $1.9B | 33.46% | $63M | 18.27% | RCL +15.2pp |
| Pre-tax income | $1.8B | 31.51% | $46M | 13.48% | RCL +18.0pp |
| Net income | $1.7B | 31.03% | $21M | 6.16% | RCL +24.9pp |
| Stage | RCL | TDW | Gap · A − B |
|---|---|---|---|
| Revenue | $5.6B100.00% | $342M100.00% | RCL ×16.33 |
| Gross profit | 51.51%$2.9B | 100.00%$342M | TDW +48.5pp |
| Operating income | 33.46%$1.9B | 18.27%$63M | RCL +15.2pp |
| Pre-tax income | 31.51%$1.8B | 13.48%$46M | RCL +18.0pp |
| Net income |
| 31.03%$1.7B |
| 6.16%$21M |
| RCL +24.9pp |
None
No disclosed counterparties: RCL.