Divides all revenue by all marketing spend, then shows the break-even MER your margin requires and how much revenue the ad platforms are claiming twice.
Every dollar in, every dollar out, no attribution involved. That is the whole point. MER cannot be inflated by a platform claiming credit, because it never asks any platform what it did.
Break-even MER is one divided by gross margin. At a 42 percent margin you need 2.38 to stand still, so a MER of 4.29 means marketing is funding fixed costs as well as covering goods.
A MER of 4.0 is a blended ROAS of 4.0 and a TACOS of 25 percent. Arguing about which to report is a vocabulary problem, not a measurement one.
Platform ROAS is almost always the higher number, and the gap has a few ordinary causes worth separating before anyone blames the media buyer.
If reported revenue exceeds total revenue, the arithmetic has already told you the platforms are double counting. No attribution model is needed to see it.
MER is honest about the total and silent about the parts.
Because MER ignores attribution, it also ignores allocation. A healthy MER can hide a channel burning money, offset by organic revenue that would have arrived regardless. Scaling on MER alone tends to scale the wrong channel.
Use MER as the ceiling that decides how much total spend the business can carry, and use incrementality tests or geo holdouts to decide where that spend goes. One number cannot do both jobs.