| Stage | TRGP | % of rev | WMB | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $4.4B | 100.00% | $3.1B | 100.00% | TRGP ×1.45 |
| Gross profit | $2.1B | 48.15% | $2.5B | 83.13% | WMB +35.0pp |
| Operating income | $1.2B | 27.80% | $1.2B | 38.72% | WMB +10.9pp |
| Pre-tax income | $1.0B | 22.63% | $1.1B | 37.21% | WMB +14.6pp |
| Net income | $778M | 17.52% | $876M | 28.69% | WMB +11.2pp |
| Stage | TRGP | WMB | Gap · A − B |
|---|---|---|---|
| Revenue | $4.4B100.00% | $3.1B100.00% | TRGP ×1.45 |
| Gross profit | 48.15%$2.1B | 83.13%$2.5B | WMB +35.0pp |
| Operating income | 27.80%$1.2B | 38.72%$1.2B | WMB +10.9pp |
| Pre-tax income | 22.63%$1.0B | 37.21%$1.1B | WMB +14.6pp |
| Net income |
| 17.52%$778M |
| 28.69%$876M |
| WMB +11.2pp |
No shared counterparties.