| Stage | TRS | % of rev | PLOW | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $175M | 100.00% | $215M | 100.00% | PLOW ×1.23 |
| Gross profit | $35M | 20.24% | $67M | 31.12% | PLOW +10.9pp |
| Operating income | $11M | 6.22% | $35M | 16.51% | PLOW +10.3pp |
| Pre-tax income | $18M | 10.35% | $34M | 15.71% | PLOW +5.4pp |
| Net income | $13M | 7.66% | $25M | 11.82% | PLOW +4.2pp |
| Stage | TRS | PLOW | Gap · A − B |
|---|---|---|---|
| Revenue | $175M100.00% | $215M100.00% | PLOW ×1.23 |
| Gross profit | 20.24%$35M | 31.12%$67M | PLOW +10.9pp |
| Operating income | 6.22%$11M | 16.51%$35M | PLOW +10.3pp |
| Pre-tax income | 10.35%$18M | 15.71%$34M | PLOW +5.4pp |
| Net income |
| 7.66%$13M |
| 11.82%$25M |
| PLOW +4.2pp |
No disclosed counterparties: PLOW.
None