| Stage | SHOP | % of rev | AFRM | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $3.7B | 100.00% | $1.3B | 100.00% | SHOP ×2.96 |
| Gross profit | $1.8B | 47.59% | $1.3B | 100.00% | AFRM +52.4pp |
| Operating income | $568M | 15.18% | $187M | 14.82% | SHOP +0.4pp |
| Pre-tax income | $499M | 13.34% | $205M | 16.25% | AFRM +2.9pp |
| Net income | $462M | 12.35% | $164M | 13.01% | AFRM +0.7pp |
| Stage | SHOP | AFRM | Gap · A − B |
|---|---|---|---|
| Revenue | $3.7B100.00% | $1.3B100.00% | SHOP ×2.96 |
| Gross profit | 47.59%$1.8B | 100.00%$1.3B | AFRM +52.4pp |
| Operating income | 15.18%$568M | 14.82%$187M | SHOP +0.4pp |
| Pre-tax income | 13.34%$499M | 16.25%$205M | AFRM +2.9pp |
| Net income |
| 12.35%$462M |
| 13.01%$164M |
| AFRM +0.7pp |
No shared counterparties.