Cleveland's healthcare sector also includes University Hospitals of Cleveland, a renowned center for cancer treatment, MetroHealth medical center, and the insurance company Medical Mutual of Ohio. Cleveland is also noted in the fields of biotechnology and fuel cell research, led by Case Western Reserve University, the Cleveland Clinic, and University Hospitals of Cleveland.
Revenue is integral to a business to cover the costs of producing and selling its goods or services. Without it, profit would not exist. Calculate total revenue by multiplying the price per unit by the quantity sold. For example, if a company sells 100 light bulbs at $3 each, the total revenue is $300.
Profit margin or net profit margin is a ratio that describes how much profit a company makes for every dollar of sales. A companyâs profit margin is calculated by dividing net income by revenues. Revenues are the total sales and net income is the total sales minus costs. The profit margin of a company is expressed as a percentage, so a 15% percent profit margin translates into a $0.15 profit for every dollar of sales. A companyâs profit margin fluctuates each quarter and has a direct effect on its stock price. A companyâs market share, on the other hand, reflects the amount of products the company sold compared to the total number sold by all companies in a given market or industry.