ADBE

Of every 100 units of revenue, this much survives as profit.

Margins this wide usually mean real pricing power or a moat.

Profit from operations, before interest and tax, per 100 of revenue.

Typical of software and other businesses with little cost per extra sale.

What is left of revenue after only the direct cost of the product.

Little marginal cost per sale, which is what lets software and pharma fund heavy R&D.

Profit generated per unit of shareholder capital.

Rare when sustained — check whether debt is flattering it, since borrowing shrinks the equity denominator.

Profit generated per unit of everything the company owns.

Usually an asset-light business — the value is in people and brands, not property.

Borrowings measured against shareholder capital.

Normal for most established companies.

Short-term assets against short-term obligations.

Below 1 the company owes more within a year than it holds — workable if customers pay up front, risky otherwise.

Short-term assets excluding inventory, against short-term debts.

Near-term obligations are roughly covered without selling inventory.

Change in revenue against the same period last year.

A healthy expansion rate.

Change in earnings against the same period last year.

Profit is compounding at a good clip.

The share of earnings paid out as dividends.

All earnings are retained in the business.

Return earned per unit of risk taken.

The risk taken has not been rewarded over this period.

The share of trading days that closed higher.

Close to a coin flip, which is the norm — returns come from the size of moves, not their count.

You pay 13.53 for every 1 unit of annual earnings.

Roughly the long-run market average band.

Price against next year's *forecast* earnings.

The market expects little growth, or doubts the forecast.

P/E divided by the growth rate — it asks whether the price is justified by the growth.

Under 1 is the classic Peter Lynch marker for growth you are not paying full price for.

Price against the accounting value of the company's net assets.

Normal for asset-light businesses, where the value sits in brands and software the balance sheet never records.

Price against revenue — usable when a company has no profit yet.

A common range for a profitable, growing business.

Whole-company value, debt included, against cash earnings.

A conventional range.

Annual dividend as a percentage of the share price.

This company returns cash by reinvesting or buying back shares instead.

A 0–100 momentum gauge over the last 14 sessions.

The middle band, where most trading days sit.

Trend strength, regardless of direction.

Above 25 is conventionally read as a genuine trend in force.

How far the price typically swings over a year.

A typical range for an individual share.

How much the price moves relative to the wider market.

Amplifies the index — bigger gains, bigger falls.

The worst peak-to-trough fall in the period measured.

A fall this deep needs roughly a doubling to recover.

How far the mean analyst target sits above today's price.

Analysts see real room above today's price.