| Stage | VMC | % of rev | SND | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $2.2B | 100.00% | $115M | 100.00% | VMC ×18.99 |
| Gross profit | $666M | 30.47% | $20M | 17.23% | VMC +13.2pp |
| Operating income | $525M | 24.01% | $10M | 8.74% | VMC +15.3pp |
| Pre-tax income | $471M | 21.57% | $10M | 8.88% | VMC +12.7pp |
| Net income | $363M | 16.61% | $10M | 8.84% | VMC +7.8pp |
| Stage | VMC | SND | Gap · A − B |
|---|---|---|---|
| Revenue | $2.2B100.00% | $115M100.00% | VMC ×18.99 |
| Gross profit | 30.47%$666M | 17.23%$20M | VMC +13.2pp |
| Operating income | 24.01%$525M | 8.74%$10M | VMC +15.3pp |
| Pre-tax income | 21.57%$471M | 8.88%$10M | VMC +12.7pp |
| Net income |
| 16.61%$363M |
| 8.84%$10M |
| VMC +7.8pp |