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Whenever the graded pieces $N_i$ are finitely generated over $S_0$, define the Poincare series of a graded module byAdditivity means $\lambda (B)=\lambda (A)+\lambda (C)$ for every short exact sequence $0\to A\to B\to C\to 0$ in the indicated category. Dimension over a field is a basic example; length is another when the modules have finite length.

The Hilbert-Serre theorem needs finite-generation hypotheses: take $S_0$ commutative Noetherian and $S$ generated over it by homogeneous $x_1,\dots ,x_r$ of positive degrees $d_1,\dots ,d_r$. For finitely generated graded $N$, every $N_i$ is then finite over $S_0$, andIf negative grading indices are allowed for the module, the numerator is a Laurent polynomial instead. In standard degree one, the coefficients are eventually polynomial functions of the index.

To prove this, regard $N$ as finite over the surjective polynomial presentation $S_0[X_1,\dots ,X_r]\to S$. Induct on $r$. At $r=0$ only finitely many homogeneous generator degrees occur, so the series is a polynomial. For the last variable $x$ of degree $d$, put $K=(0{:}_{N}x)$ and $Q=N/xN$. The polynomial ring is Noetherian by the Hilbert basis theorem, hence $K$ is finite; both $K$ and $Q$ are finite modules over the ring with that variable removed. The degree-$i$ exact sequence isAdditivity, followed by summing over $i$, givesThe induction hypothesis supplies the remaining denominator factors. This proves Hilbert-Serre theorem for an additive coefficient function. If all $d_i=1$, expanding $(1-t{)}^{-r}$ proves eventual polynomial coefficients directly.

An arbitrary positively graded ring in the introductory wording is not enough by itself. For example $S=k[X_1,X_2,\dots ]$ with every variable of degree one and $N=S$ is a cyclic graded module, but $N_1$ is not finite-dimensional over $k$, so the dimension-valued series is not even defined. The theorem above states the standard hypotheses that make the requested definition and rationality valid.