ACW Chart Thread, page-19

That is correct. But when investing in a company you need to understand the TAM, SAM and SOM, so to accurately value a company (purely from a return perspective) you need to know what the SOM is, it's all good understanding the TAM, but no company can capture 100% of the market... Not to mentions operating margins, execution risk, etc, etc. We can't sit on a panel grilling the executives of these companies so have to assess the size with what information we have available to us.

The addressable market for NEU is expected to be $88b USD by 2031, many more multiples of ACW and is at roughly $60b USD now, that's why NEU is much more than us.

Anyways, I'm trying to understand what you're trying to figure out. All this information is readily available online.