// definition

EBITDA

Earnings Before Interest, Taxes, Depreciation and Amortisation

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Private credit & markets

Short definition

Earnings before interest, taxes, depreciation and amortisation. Adjusted EBITDA adds or subtracts further items whose definitions need checking. This metric does not measure available cash or capital expenditure.

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Knowledge map

Intuition

Inspect adjustments before comparing debt with earnings.

Formula

EBITDA = net income + interest + taxes + depreciation and amortisation

Related analyses

Paramount–Warner: capital, debt and editorial control

Primary sources

SEC, Non-GAAP Financial Measures, §103

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