You’re right in that it ought to be compared to the scale of profits, not a percentage, as many run on a loss during growth. But profit is still what matters. I

You’re right in that it ought to be compared to the scale of profits, not a percentage, as many run on a loss during growth. But profit is still what matters. Including the promise of future profits. Talking of the future doesn’t help much because both numbers will change. And punishing a company based on its future state is… not possible