| Stage | VMC | % of rev | MDU | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $2.2B | 100.00% | $375M | 100.00% | VMC ×5.82 |
| Gross profit | $666M | 30.47% | $243M | 64.77% | MDU +34.3pp |
| Operating income | $525M | 24.01% | $48M | 12.78% | VMC +11.2pp |
| Pre-tax income | $471M | 21.57% | $23M | 6.03% | VMC +15.5pp |
| Net income | $363M | 16.61% | $21M | 5.66% | VMC +11.0pp |
| Stage | VMC | MDU | Gap · A − B |
|---|---|---|---|
| Revenue | $2.2B100.00% | $375M100.00% | VMC ×5.82 |
| Gross profit | 30.47%$666M | 64.77%$243M | MDU +34.3pp |
| Operating income | 24.01%$525M | 12.78%$48M | VMC +11.2pp |
| Pre-tax income | 21.57%$471M | 6.03%$23M | VMC +15.5pp |
| Net income |
| 16.61%$363M |
| 5.66%$21M |
| VMC +11.0pp |