PRF009Factor HubProfitability FactorsMedium
Marginal Profitability Factor
Profit gained per extra unit of revenue — the signature of operating leverage kicking in.
Formula
MargProfit = Δ净利润 / Δ营业收入Performance (Top-30 equal-weight long, monthly rebalance)
Annualized return
1.83%
Sharpe ratio
0.19
Max drawdown
-39.59%
Total return
19.93%
Cumulative performance（2016-09 … 2026-08）
2016 -12.3%2017 -18.4%2018 -4.4%2019 +32.5%2020 +21.8%2021 -0.7%2022 +16.4%2023 -7.6%2024 -5.4%2025 -0.2%2026 +7.8%
Current top-30 holdings
| # | Ticker | Company | Score |
|---|---|---|---|
| 1 | FTV | Fortive | 1.532 |
| 2 | PSA | Public Storage | 1.525 |
| 3 | CE | Celanese | 0.819 |
| 4 | SPGI | S&P Global | 0.783 |
| 5 | INTU | Intuit | 0.676 |
| 6 | LRCX | Lam Research | 0.635 |
| 7 | LEN | Lennar | 0.626 |
| 8 | PH | Parker Hannifin | 0.609 |
| 9 | SLB | SLB | 0.562 |
| 10 | CCL | Carnival | 0.540 |
| 11 | TER | Teradyne | 0.516 |
| 12 | MCD | McDonald's | 0.496 |
| 13 | PLTR | Palantir | 0.496 |
| 14 | NEM | Newmont | 0.473 |
| 15 | CDNS | Cadence | 0.467 |
| 16 | KMI | Kinder Morgan | 0.466 |
| 17 | AZO | AutoZone | 0.465 |
| 18 | AMAT | Applied Materials | 0.452 |
| 19 | EMR | Emerson Electric | 0.448 |
| 20 | ECL | Ecolab | 0.443 |
| 21 | TJX | TJX Companies | 0.439 |
| 22 | TXN | Texas Instruments | 0.434 |
| 23 | KLAC | KLA | 0.429 |
| 24 | CAT | Caterpillar | 0.420 |
| 25 | CL | Colgate-Palmolive | 0.399 |
| 26 | MELI | MercadoLibre | 0.398 |
| 27 | HSY | Hershey | 0.397 |
| 28 | NSC | Norfolk Southern | 0.380 |
| 29 | IBM | IBM | 0.377 |
| 30 | STZ | Constellation Brands | 0.373 |
Holdings computed by the exact formula above at the latest month-end observation on the deterministic research panel (2026-08).
Data export
Exports include formulas, performance statistics, the 120-month series and current holdings — everything needed to replicate results locally.