| Stage | TNL | % of rev | MAR | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $1.1B | 100.00% | $7.1B | 100.00% | MAR ×6.42 |
| Gross profit | $1.1B | 98.00% | $1.6B | 21.98% | TNL +76.0pp |
| Operating income | $195M | 17.71% | $1.2B | 17.38% | TNL +0.3pp |
| Pre-tax income | $146M | 13.26% | $1.0B | 14.76% | MAR +1.5pp |
| Net income | $108M | 9.81% | $766M | 10.83% | MAR +1.0pp |
| Stage | TNL | MAR | Gap · A − B |
|---|---|---|---|
| Revenue | $1.1B100.00% | $7.1B100.00% | MAR ×6.42 |
| Gross profit | 98.00%$1.1B | 21.98%$1.6B | TNL +76.0pp |
| Operating income | 17.71%$195M | 17.38%$1.2B | TNL +0.3pp |
| Pre-tax income | 13.26%$146M | 14.76%$1.0B | MAR +1.5pp |
| Net income |
| 9.81%$108M |
| 10.83%$766M |
| MAR +1.0pp |
No shared counterparties.