Are you more profitable on FBA or FBM — by SKU?

WITH channel_revenue AS (
  SELECT
    i.sku,
    i.fulfillment_channel,
    SUM(i.item_price * i.quantity)   AS gross_revenue,
    SUM(i.quantity)                  AS units_sold,
    COUNT(DISTINCT o.amazon_order_id) AS order_count
  FROM amazon_order_items i
  JOIN amazon_orders o ON o.amazon_order_id = i.amazon_order_id
  WHERE o.order_status NOT IN ('Canceled', 'Cancelled')
    AND i.item_price IS NOT NULL
    AND o.purchase_date::date >= CURRENT_DATE - INTERVAL '90 days'
  GROUP BY i.sku, i.fulfillment_channel
),
channel_fees AS (
  SELECT
    seller_sku               AS sku,
    fulfillment_channel,
    SUM(ABS(item_related_fee_amount)) AS total_fees
  FROM amazon_financial_events
  WHERE posted_date::date >= CURRENT_DATE - INTERVAL '90 days'
    AND charge_type IN ('FBAPerUnitFulfillmentFee', 'Commission', 'ShippingChargeback')
  GROUP BY seller_sku, fulfillment_channel
)
SELECT
  cr.sku,
  cr.fulfillment_channel,
  cr.order_count,
  cr.units_sold,
  ROUND(cr.gross_revenue::numeric, 2)        AS gross_revenue,
  ROUND(COALESCE(cf.total_fees, 0)::numeric, 2) AS total_fees,
  ROUND((cr.gross_revenue - COALESCE(cf.total_fees, 0))::numeric, 2) AS estimated_net,
  ROUND(
    (cr.gross_revenue - COALESCE(cf.total_fees, 0))
    / NULLIF(cr.gross_revenue, 0) * 100, 1
  )                                           AS net_margin_pct
FROM channel_revenue cr
LEFT JOIN channel_fees cf USING (sku, fulfillment_channel)
WHERE cr.units_sold >= 5
ORDER BY cr.sku, cr.fulfillment_channel