| Stage | STE | % of rev | CARG | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $1.5B | 100.00% | $251M | 100.00% | STE ×5.95 |
| Gross profit | $684M | 45.84% | $231M | 92.08% | CARG +46.2pp |
| Operating income | $286M | 19.15% | $63M | 25.10% | CARG +5.9pp |
| Pre-tax income | $274M | 18.32% | $63M | 25.30% | CARG +7.0pp |
| Net income | $201M | 13.47% | $49M | 19.60% | CARG +6.1pp |
| Stage | STE | CARG | Gap · A − B |
|---|---|---|---|
| Revenue | $1.5B100.00% | $251M100.00% | STE ×5.95 |
| Gross profit | 45.84%$684M | 92.08%$231M | CARG +46.2pp |
| Operating income | 19.15%$286M | 25.10%$63M | CARG +5.9pp |
| Pre-tax income | 18.32%$274M | 25.30%$63M | CARG +7.0pp |
| Net income |
| 13.47%$201M |
| 19.60%$49M |
| CARG +6.1pp |
No disclosed counterparties: STE, CARG.