Can't say I agree with that although margins are important. As interest is included with EBITDA and needs to play a huge part of the equation. While positive cash flow is after all bills are included. Derivatives is another thing I totally ignore as they are non-cash additions and deletions to earnings. Yes margins are very important they are maintained or increasing yet imo only tell a partial story.
For me positive cash is the metric I rely on most. Margins have virtually when down or will be down across the board when companies report. Increased sales can help considerably when prices on product are down as they currently are. Derivatives play very little to the end game.
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