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Percentage margins don't matter. What matters always is dollar margins: the actual dollar amount. Companies are valued not on their percentage margins, but on how many dollars they actually make, and a multiple of that.
利润率不重要。重要的始终是美元利润率:实际金额。公司的价值不在于它们的利润率，而在于它们实际赚了多少美元，以及它们的倍数。