| Stage | WH | % of rev | MAR | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $410M | 100.00% | $7.1B | 100.00% | MAR ×17.25 |
| Gross profit | $253M | 61.71% | $1.6B | 21.98% | WH +39.7pp |
| Operating income | $172M | 41.95% | $1.2B | 17.38% | WH +24.6pp |
| Pre-tax income | $135M | 32.93% | $1.0B | 14.76% | WH +18.2pp |
| Net income | $99M | 24.15% | $766M | 10.83% | WH +13.3pp |
| Stage | WH | MAR | Gap · A − B |
|---|---|---|---|
| Revenue | $410M100.00% | $7.1B100.00% | MAR ×17.25 |
| Gross profit | 61.71%$253M | 21.98%$1.6B | WH +39.7pp |
| Operating income | 41.95%$172M | 17.38%$1.2B | WH +24.6pp |
| Pre-tax income | 32.93%$135M | 14.76%$1.0B | WH +18.2pp |
| Net income | 24.15%$99M | 10.83%$766M | WH +13.3pp |
No shared counterparties.