compared with 11 times

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tsiyaku

Senior Member
Turkish
Hello everyone,
I read this sentence on the webpage below.

"Gazprom, a Russian energy firm run by the Kremlin, has fallen to a value just three times its annual profits, compared with 11 times for Exxon."

And I have some difficulty understanding the part "has fallen to a value just three times its annual profits, compared with 11 times for Exxon".

What I understand from this sentence is Exxon has fallen to a value which is 11 times bigger than its annual profits. Is that correct?

http://www.economist.com/news/briefing/21586558-american-private-enterprise-dominates-corporate-premier-league-again-thanks-waning

Thanks in advance.
 
  • PaulQ

    Senior Member
    UK
    English - England
    The sentence is so badly written that, out of context, it is impossible to tell what is meant. However, from the article, it is clear that (i) the article is speaking of this year's performance and (ii) the value of Exxon has risen, not fallen.

    So therefore, I would assume that

    2012
    Gazprom value= £100 Billion -> Gazprom annual profits £5 Billion (Gazprom's value is 20 times its annual profits)
    2013
    Gazprom value= £90 Billion -> Gazprom annual profits £30 Billion (Gazprom's value is 3 times its annual profits)

    2013
    Exxon value= £110 Billion -> Exxon annual profits £10 Billion (Exxon's value is 11 times its annual profits)

    Therefore the sentence is:

    "Gazprom, a Russian energy firm run by the Kremlin, has fallen to a value just three times its annual profits, compared with 11 times for Exxon's figures for 2013."

    (Figures invented for easy of calculation only: I don't want to cause a global crisis :))
     
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