and its table. There seems to be a tendency for the larger companies to
make a slightly better showing. If a ratio of .32 be taken as marking a
dividing line, the proportion of cases above that point will be as follows:
Size, 50
Size, 5-9 Size, 10-49 millions
millions millions and over
Percentage of cases
above a ratio of .32... 41% 49% 54%
The same showing appears in the averages (modes) which are, .20,
29, and .35, respectively, for the three sizes of companies.
In addition to these characteristics there are two other points
worthy of note. The first has to do with the concentration in an interval
of 24 per cent (.08 to .32) in the small companies of some 55 per cent of
the small company cases. On the other hand a 24 per cent interval for
the other companies extends from the ratio .24 to .48—much higher in
the scale—and includes about 50 per cent of the cases. The other point
is the relatively large proportion of cases (13%) for the largest companies
 which falls in the lowest ratio-group. This unusual condition in
the first ratio-group tends to prevent the modal average from satisfactorily
 expressing the total number of cases in a typical figure.
THE RATIO BY YEARS
Judging by the general outlines of the bars in Chart 2d, the effect
of different years upon the distribution of the ratios along the scale
Bomras or Busmess Reseach
Unwersiry or liiimors -2d
ute 7 Que ERAGE AVERAGE
iad Moog)
a
: ; FRB FFI :
5 . FEE 8 AAFI ZX I eR3 YEE IN
/.. /9/9 /92/
Ratios [Lxpressed as Rercentages
Cuart 2d—FreqQuency DisTRIBUTIONS OF THE REVENUE-TO-NET-WORTH
Ratios oF Pusric UriLity ComPANIES BY SAMPLE YEARS

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