{
  "provider": "Level CFO",
  "note": "Aggregate distributions from Level CFO’s proprietary contractor operating dataset. No individual company is identified.",
  "metrics": {
    "sa_gross_margin_pct": {
      "median": 43.8,
      "p25": 31.8,
      "p75": 68.8,
      "n": 103,
      "label": "Service-agreement gross margin"
    },
    "collection_rate_pct": {
      "median": 85.1,
      "p25": 70.7,
      "p75": 92.7,
      "p90": 96,
      "n": 464,
      "label": "Invoice collection rate"
    },
    "quote_conversion_pct": {
      "median": 73,
      "p25": 61.3,
      "p75": 81.3,
      "n": 409,
      "label": "Quote conversion (decided)"
    },
    "billing_speed_days": {
      "median": 1,
      "p25": -4,
      "p75": 5.7,
      "n": 555,
      "label": "Days from completion to first invoice"
    }
  },
  "published_cross_trade": [
    {
      "label": "Median collection rate",
      "value": "85.1%",
      "n": 464,
      "note": "Effective cash conversion across the blended 6-trade pool; top decile 96.0%."
    },
    {
      "label": "Median billing speed",
      "value": "1 day",
      "n": 733,
      "note": "1 day with progress billing included; 7 days among post-completion invoicers."
    },
    {
      "label": "Quote conversion (decided)",
      "value": "73.9%",
      "n": 794,
      "note": "On decided quotes; 38.1% across all quotes."
    },
    {
      "label": "Median job gross margin",
      "value": "44.3%",
      "n": 430,
      "note": "Blended across trades; 91% of jobs carry revenue with no cost data attached."
    }
  ],
  "published_meta": {
    "publisher": "Level",
    "license": "https://creativecommons.org/licenses/by/4.0/ (free to cite with attribution to Level, levelcfo.com)",
    "last_updated": "2026-07-20",
    "note": "Level measured a BLENDED 6-trade pool, so these per-trade pages lead with EXTERNAL, CITABLE trade-specific benchmarks (tiered A/B/C) and the public-company segment reads, then layer Level's blended cross-trade metrics (below) as clearly-labeled context. Level does NOT publish a per-trade split of its own dataset. Public-company figures are large scaled operators and read as an upper reference, not a typical private contractor."
  }
}