01 / GROWTHGrowth is a starting point.
Revenue growth tracks changes in scale, but pricing, acquisitions and exchange rates can also drive it. Read growth alongside margins to understand the business.
How is it calculated?
Revenue growth = (current fiscal year revenue / prior fiscal year revenue − 1) × 100%. We compare full fiscal years, not individual quarters.
02 / PROFITABILITYProfit is not cash.
Accounting estimates, taxes and noncash gains affect net income. A higher margin may reflect stronger operations or one-time items. Check the filings for context.
How is it calculated?
Net margin = net income / revenue × 100%. We use reported GAAP net income without adjusting one-time items.
03 / CASH GENERATIONHow much cash remains?
Free cash flow measures operating cash remaining after capital expenditures. It helps assess cash generation, but is not a substitute for reviewing the balance sheet.
How is it calculated?
Free cash flow = operating cash flow − cash purchases of property, plant and equipment. This measure does not subtract acquisitions or represent cash entirely available for shareholder distributions.