The ratio that is the fundamental measure of business performance is

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ROCE (return on capital employed) measures the profitability of a company based on the amount of capital invested in the business. It is a widely used ratio to evaluate business performance across different industries and can help investors understand how effectively a company is using its resources to generate earnings. EPS (earnings per share), ROE (return on equity), leverage ratio, and gross profit margin ratio are also important measures of business performance, but ROCE is generally considered the most fundamental ratio.

The Ratio That Is the Fundamental Measure of Business Performance