The hole the light comes through
On a 50 mm lens, f/2.8 is a hole 18 mm across. Each step along the row is one stop: half the light of the one before. Compared with f/1.4 this lets in 1/4.
- The f-number is the focal length divided by the width of the hole. Bigger number, smaller hole.
- Light goes with the hole’s area. To halve the area you multiply N by √2, which is why the stops run 1.4, 2, 2.8, 4, 5.6…