What this is
At 2025 run-rate the base is $15.7bn (vs $15.083bn, +4.1%).
Where it comes from
Our calculation from other figures in the trainer’s notes:
Show the working
- weighted the Jan–Feb 2026 stub with CY2024 ($12.0bn)
- the stub is CY2026
- At CY2025 run-rate the base is $15.7bn (vs $15.083bn, +4.1%)
- Low 15.7 × 0.6 × 0.5 × 0.12 × 150 = 84,780
- point × 0.8
Related figures
Built from this one