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Since 1802, the American stock market has yielded an average annual real return (the return adjusted for inflation) of approximately
Earnings Before Taxes
An indicator of a company's financial performance calculated as revenue minus expenses, excluding taxes.
Annual Depreciation
The annual allocation of the cost of an asset over its useful life, reflecting the consumption or the decline in the value of the asset over that period.
Net Working Capital
The difference between a company's current assets and current liabilities, indicating its short-term liquidity and ability to finance day-to-day operations.
Shipping Cost
The expense associated with transporting goods from one location to another.
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