| Stage | SND | % of rev | VMC | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $115M | 100.00% | $2.2B | 100.00% | VMC ×18.99 |
| Gross profit | $20M | 17.23% | $666M | 30.47% | VMC +13.2pp |
| Operating income | $10M | 8.74% | $525M | 24.01% | VMC +15.3pp |
| Pre-tax income | $10M | 8.88% | $471M | 21.57% | VMC +12.7pp |
| Net income | $10M | 8.84% | $363M | 16.61% | VMC +7.8pp |
| Stage | SND | VMC | Gap · A − B |
|---|---|---|---|
| Revenue | $115M100.00% | $2.2B100.00% | VMC ×18.99 |
| Gross profit | 17.23%$20M | 30.47%$666M | VMC +13.2pp |
| Operating income | 8.74%$10M | 24.01%$525M | VMC +15.3pp |
| Pre-tax income | 8.88%$10M | 21.57%$471M | VMC +12.7pp |
| Net income |
| 8.84%$10M |
| 16.61%$363M |
| VMC +7.8pp |