Putting EBITDA in Perspective
ثبت نشده
چکیده
EBITDA means earnings before (deduction of ) interest, taxation, depreciation and amortization. Many financiers and press reporters use EBITDA in a ratio with enterprise value, EV (Market value of equity + market value of debt minus surplus cash (cash not needed in the annual operations of the business)). It is compared to Enterprise Value (―EV‖), rather than equity value, because it includes the interest element.
منابع مشابه
EBITDA and Overinvestment in Capital
EBITDA is a commonly used performance measure for (1) valuation, (2) debt contracting, and (3) executive compensation. The widespread use of EBITDA by stakeholders may induce managers to focus EBITDA as well. Since EBITDA excludes various expenses, managers who focus on EBITDA may underweight those costs when investing in capital and choosing leverage levels. I proxy for managers’ focus on EBIT...
متن کامل1999 Third Quarter Results EBITDA Increases 34 % and Cash Earnings 44 % in US Dollar Terms
• EBITDA increased 23% in real terms during the third quarter to Ps.4.463 billion. In dollar terms, EBITDA grew 34% to US$477 million during the third quarter as compared to US$355 million during the same period a year ago. EBITDA, with respect to the CEMEX Group, equals operating income before amortization expense plus depreciation. Amortization of goodwill is not included in operating income,...
متن کاملThe Relative and Incremental Information in Alternative (to Earnings) Performance Measures
We analyze the ability of earnings and non-earnings performance metrics to explain stock returns for industries where we identify, ex ante, an allegedly preferred (for valuation purposes) performance metric. We identify three industries each where earnings before interest, taxes, depreciation and amortization (EBITDA) and cash from operations are preferred, and three industries where specific n...
متن کاملThe Multidimensional Data Model of Integrated Accounting Needed for Compiling Management Reports Based on Calculation EBITDA Indicator
Organization and method of assembly management report using a definition of EBITDA indicator (Earnings before interest and tax, amortization and depreciation) are considered on the practical example of Kherson river port’s activity. The process of constructing a multidimensional model, that is necessary for determining EBITDA of integrated accounting using the program "1C: Accounting for Ukrain...
متن کاملرابطه راهبردهای تنظیم شناختی هیجان با ایدهپردازی خودکشی
The goal of current research was to assess the relationship between strategies for cognitive regulation of emotions and suicidal ideation. To do so, 120 Kharazmi University students (60 male and 60 female) were selected randomly and assessed by Cognitive Emotion Regulation Questionnaire (CERQ) and Beck Scale for Suicidal Ideation (BSSI). Results indicated that self-blame, rumination, catastroph...
متن کامل