Liquidation entitlement
What a shareholder receives on the liquidation of a company after all creditors have been settled with.
How to read the number
It fixes the shareholder's place in the queue: last, with preferred shares standing ahead of ordinary ones within that place.
When the metric lies
The residue is usually nil: liquidation tends to arrive where assets fell short of obligations, and the queue never reaches equity.
Also known as: residual claim on liquidation