| Stage | SMG | % of rev | AIN | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $1.2B | 100.00% | $350M | 100.00% | SMG ×3.35 |
| Gross profit | $366M | 31.22% | $140M | 40.16% | AIN +8.9pp |
| Operating income | $170M | 14.47% | $59M | 16.99% | AIN +2.5pp |
| Pre-tax income | $155M | 13.24% | $56M | 15.96% | AIN +2.7pp |
| Net income | $112M | 9.57% | $42M | 11.98% | AIN +2.4pp |
| Stage | SMG | AIN | Gap · A − B |
|---|---|---|---|
| Revenue | $1.2B100.00% | $350M100.00% | SMG ×3.35 |
| Gross profit | 31.22%$366M | 40.16%$140M | AIN +8.9pp |
| Operating income | 14.47%$170M | 16.99%$59M | AIN +2.5pp |
| Pre-tax income | 13.24%$155M | 15.96%$56M | AIN +2.7pp |
| Net income |
| 9.57%$112M |
| 11.98%$42M |
| AIN +2.4pp |
No shared counterparties.