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A business that's net worth is valued at 2 million dollars or more!
jrlatmit
I would say that it really depends.
For newspaper articles, most journalists would based it on gross sales (not net sales).
If you are buying the company, you would probably be more interested in either net sales (pre-tax profit), or asset base.
This kind of stuff gets even more complicated when talking about really large companies (i.e. tens of billions of dollars revenue per year), where there can be hundreds of ways of evaluating what a company is worth (i.e. stock market "cap" etc).