| Stage | VMI | % of rev | TECH | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $1.1B | 100.00% | $300M | 100.00% | VMI ×3.68 |
| Gross profit | $331M | 30.02% | $197M | 65.60% | TECH +35.6pp |
| Operating income | $173M | 15.66% | $37M | 12.21% | VMI +3.4pp |
| Pre-tax income | $163M | 14.79% | $35M | 11.58% | VMI +3.2pp |
| Net income | $121M | 11.00% | $28M | 9.44% | VMI +1.6pp |
| Stage | VMI | TECH | Gap · A − B |
|---|---|---|---|
| Revenue | $1.1B100.00% | $300M100.00% | VMI ×3.68 |
| Gross profit | 30.02%$331M | 65.60%$197M | TECH +35.6pp |
| Operating income | 15.66%$173M | 12.21%$37M | VMI +3.4pp |
| Pre-tax income | 14.79%$163M | 11.58%$35M | VMI +3.2pp |
| Net income |
| 11.00%$121M |
| 9.44%$28M |
| VMI +1.6pp |