Callouts & quotes from 1,047+ activist slides

"Direct Peers have all grown operating margins while GCP's have declined"

"RINO’s gross margins are far in excess of those of the industry leader."

"Direct Peers have all grown operating margins while GCP's have declined"

"We observe that since 2016, Stryker's SG&A margin is largely unchanged."

"Box may have an opportunity to significantly improve its gross margins"

"Retail margins: Margin contraction despite significant growth in scale"

"We believe BILL has best-in-class gross margins, ahead of peer median."

"Target of growth + margin of only 42% vs. current peer average of ~50%"

"Across the portfolio, International margins should be mid-20s% to 30%"

"Gross margin has transitioned from mostly positive to mostly negative"

"Gross margin has transitioned from mostly positive to mostly negative"

"OR at time of acquisition was ~70%; should have been margin accretive"

"Gross margin contracted during a period of increasing price per seat"

"$1.23B of “cost cuts” but only 30 bps or ~$30M of margin improvement"

"Goodyear is the #1 North American tire manufacturer by a wide margin"

"Enormous margin opportunity from ~19% to mid-to-high-30s% potential"

"We believe Autodesk has a significant opportunity to expand margins"

"Management’s $7.5bn 2016 EBITDA guidance implies ~57% EBITA margins"

"GCP has failed to meet its revenue growth targets by a wide margin."

"GCP failed to meet its cost reduction and operating margin targets."

"We believe Autodesk has a significant opportunity to expand margins"

"How is Genius' growth outpacing competitors by such a wide margin?"

"We believe our 24% EBIT margin estimate for P&G is very achievable"

"Fortrea’s adjusted EBITDA margins are well below the peer median."

"Fortrea’s adjusted EBITDA margins are well below the peer median."

"Fortrea’s adjusted EBITDA margins are well below the peer median."

"Fortrea’s adjusted EBITDA margins are well below the peer median."

"Gross margin contracted during a period of improving revenue mix"

"We believe Kronos is poised to achieve long-term margins of ~40%"

"We note how often the CFO projects gross margins of 60% or more."

"Despite advantages, State Street generates little margin benefit"

"We believe a large margin expansion opportunity exists at Splunk"

"Street estimates show margin gap persisting at NSC through 2026."

"Peroxides is a high margin business and generates a lot of cash."

"ADP's SMB should approximate Paychex's ~41% operational margins"

"Shrinking operating profits and margin well below WSP's margins"

"14 Years of margin improvements totaling approximately 1,200bps"

"We believe an EBIT margin target of at least 40% is reasonable."

"Claim of Boosting Margins by Reducing Feed Costs Lacks Credence"

"Margin has Expanded & Cash Flow Nearly Doubled in Last 3 Years"

"OIBDA Margin in Int'l Physical is 18% vs. 44% in NOAM Physical"

"Operating margins of at least 25% by 2014 (versus 16% in 2011)"

"Expanded EBITDA margins: From 8% in 2011 to 19% in LTM 9/30/14"

"Trulieve sports unbelievable gross margins of 130% on average."

"We believe AAP can close the vast majority of this margin gap"

"Huntsman's margin deficit versus peers has WORSENED over time"

"Huntsman's margin deficit versus peers has WORSENED over time"

"Huntsman's margin deficit versus peers has WORSENED over time"

"Huntsman’s margin deficit versus peers has WORSENED over time"

"Huntsman's margin deficit versus peers has WORSENED over time"

"Our thesis was that Peloton should have much better margins."

"Solventum’s margin deterioration would rank as the 3rd worst"

"Kao significantly overpaid for Margin Dilutive Bondi Sands"

"Operating margins would have been near 0 w/out the benefit"

"They could cannibalize existing higher margin K-cup sales"

"We Have Significantly Expanded Margins In Core Operations"

"Low gross-margin mindset in a high gross-margin business"

"Since 2010, EBITDA and EBIT margins are essentially flat"

"Significantly lower than 2005 Superstore margins of 9.6%"

"Expanded EBITDA margins: From 8% in 2011 to 20% in 2014"