Doubt it. Consulting firms run 30% gross margin and operating margins in The single digits or teens. I’d bet IBMs legacy portfolio is 40%+ operating margins.
Sometimes you might hear private partnerships quote gross margins in the 40s or 50s but that’s implicitly gross of partner labor and comp so it’s not apples to apples.
Sometimes you might hear private partnerships quote gross margins in the 40s or 50s but that’s implicitly gross of partner labor and comp so it’s not apples to apples.