| Stage | SMCI | % of rev | VRT | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $19.9B | 100.00% | $4.3B | 100.00% | SMCI ×4.62 |
| Gross profit | $2.5B | 12.74% | $1.6B | 38.11% | VRT +25.4pp |
| Operating income | $2.1B | 10.35% | $984M | 22.81% | VRT +12.5pp |
| Pre-tax income | $2.0B | 10.18% | $995M | 23.07% | VRT +12.9pp |
| Net income | $1.6B | 7.99% | $765M | 17.73% | VRT +9.7pp |
| Stage | SMCI | VRT | Gap · A − B |
|---|---|---|---|
| Revenue | $19.9B100.00% | $4.3B100.00% | SMCI ×4.62 |
| Gross profit | 12.74%$2.5B | 38.11%$1.6B | VRT +25.4pp |
| Operating income | 10.35%$2.1B | 22.81%$984M | VRT +12.5pp |
| Pre-tax income | 10.18%$2.0B | 23.07%$995M | VRT +12.9pp |
| Net income |
| 7.99%$1.6B |
| 17.73%$765M |
| VRT +9.7pp |
No shared counterparties.