| Stage | WMG | % of rev | LYV | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $1.9B | 100.00% | $10.1B | 100.00% | LYV ×5.42 |
| Gross profit | $854M | 45.82% | $2.4B | 23.33% | WMG +22.5pp |
| Operating income | $305M | 16.36% | $892M | 8.83% | WMG +7.5pp |
| Pre-tax income | $267M | 14.32% | $825M | 8.16% | WMG +6.2pp |
| Net income | $200M | 10.73% | $567M | 5.61% | WMG +5.1pp |
| Stage | WMG | LYV | Gap · A − B |
|---|---|---|---|
| Revenue | $1.9B100.00% | $10.1B100.00% | LYV ×5.42 |
| Gross profit | 45.82%$854M | 23.33%$2.4B | WMG +22.5pp |
| Operating income | 16.36%$305M | 8.83%$892M | WMG +7.5pp |
| Pre-tax income | 14.32%$267M | 8.16%$825M | WMG +6.2pp |
| Net income |
| 10.73%$200M |
| 5.61%$567M |
| WMG +5.1pp |
No disclosed counterparties: LYV.
None