The article looks at how non-financial companies in Europe have been performing financially and in real terms from 1999 to 2015. It compares these companies to those in the US. There are differences in how these companies behave financially and in real terms across countries, even after the euro was introduced. German companies have higher productivity and profit margins, with lower debt costs and corporate tax rates leading to higher returns. German and Spanish companies, along with US companies, are saving more than they invest since the financial crisis. There is also a trend of less money being put into capital investments.