The Underwriting Spread is the difference between the amount that an underwriter pays an issuer for its securities and the total proceeds gained from the securities during a public offering. This spread can be used to measure how much profit a company makes on each security it sells. The higher the spread, the more profit per security.However, there are other factors to consider when measuring profitability. For example, if a company has to sell its securities at a discount in order to generate interest from buyers, then this will eat into profits. Additionally, costs associated with marketing and selling the securities must also be taken into account.Overall, though,the underwriting spread is still a good way to gauge how profitable a particular security sale was for a company. By looking at this metric, issuers can see where they may need to improve in order to make more money on future offerings.