Edison

The income obtained from the production and trading of goods and services.

An indicator of business profitability given by the ratio between operating profit and the value of sales in the financial period considered.

The favourable operating result deriving from operations in the company’s main business activity, given by turnover less the total of the production costs of the goods sold.

A derivative that gives the right to call or to put a certain financial asset at a set price (the strike price).

The right of the holders of shares or convertible bonds to underwrite newly issued shares or convertible bonds in proportion to the amount of securities they hold.

A financial instrument with a variable return that represents the smallest part of a company’s share capital. It entitles the holder to a proportion of the company’s profits and gives the holder the right to vote in shareholders’ meetings. It may be listed on the Stock Exchange together with preferred stocks and savings shares, which have greater ownership rights as against limitations on their voting rights.

The positive difference between the return on an investment and the benchmark. If the difference is negative, the term used is underperformance.