Growth from a company's own efforts — more products sold, higher prices, new customers. Not the growth that appears because another company was bought.
MoatLens tip: This distinction separates strong businesses from bloated ones. A group can grow at double digits for years by acquiring companies — and destroy value every year in the process if it overpays. It is worth the look: if revenue grows sharply while profit per share stagnates and debt rises, the growth was bought, not earned.
In MoatLens this explanation sits right next to the number — one tap away. And you see the ten-year trend instead of a single value.
