Revenue flow

Margins

Stage	RS	% of rev	RYZ	% of rev	Gap · A − B
Revenue	$5.2B	100.00%	$2.2B	100.00%	RS ×2.39
Gross profit	$1.5B	27.89%	$374M	17.16%	RS +10.7pp
Operating income	$552M	10.59%	$52M	2.36%	RS +8.2pp
Pre-tax income	$532M	10.20%	$36M	1.67%	RS +8.5pp
Net income	$403M	7.74%	$33M	1.49%	RS +6.2pp

Stage	RS	RYZ	Gap · A − B
Revenue	$5.2B100.00%	$2.2B100.00%	RS ×2.39
Gross profit	27.89%$1.5B	17.16%$374M	RS +10.7pp
Operating income	10.59%$552M	2.36%$52M	RS +8.2pp
Pre-tax income	10.20%$532M	1.67%$36M	RS +8.5pp
Net income