breakeven

1. The level of output or sales necessary to cover fixed plus variable expenses. Companies in industries that have high fixed costs and, consequently, high breakevens, such as automobile and steel manufacturing, are likely to exhibit large fluctuations in earnings.
2. The price at which a security position can be closed out with no profit or loss.
3. In real estate, the occupancy level of a rental unit required to allow the owner to cover debt service and operating expense.