Acerca da segmentação (parte II)

É sempre bom recordar estes números:

"Indeed, intra-industry differences are sometimes far more dramatic than those among sectors. Take the software and services industry. Its median ROIC from 1963 to 2004 was 18 percent, but the spread between the top and bottom quartile of companies averaged 31 percent. In fact, the industry’s performance was so uneven as to render this metric meaningless. These wide variations suggest that the industry comprises many distinct subgroups [Moi ici: Como não recordar logo "Acerca da Segmentação"] that have very different structures and are subject to very different competitive forces. To form reasonable expectations, it is often necessary to dig down to more refined subindustry groupings. By contrast, the utility industry’s median ROIC is only 7 percent, but the spread from the best to the worst companies is a slim 2 percent."

Imagem e trechos retirados de "A long-term look at ROIC"