During the process of completing this project, we used the following information hoping to reach meaningful conclusions. However, they proved to be not as useful as we expected.
(1) The cashflow from operating activities as a percentage of capital expenditure. Because we do not have meaningful data after the year of 1989, we cannot compare this ratio across these four companies.
(2) SG&A (Aelling, General, and Administrative Expenses) as a percentage of sales revenue. Because we do not have the data (Adobe's SG&A has been recorded as zero by COMPUSTAT from 1985 to 1995), we cannot compare the ratio across these four companies.
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