11.   A low inventory-to-shipments ratio indicates a possible undersupply and raises the probability of increased output.

12.   But its price-to-earnings ratio hardly indicates value.

13.   High turnover ratios indicate heavy trading, which may add up to higher commissions paid by funds and higher taxes paid by investors.

14.   The ratio compares orders booked to those shipped and billed, and a declining ratio indicates slower growth.

15.   The ratio indicates manufacturing capacity compared with orders.