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EBITDA

March 2, 20200Comments

Case Studies: Reconciliation of Revenue to EBITDA

This report provides a case study for exactly how we perform the Revenue to EBITDA Reconciliation
by Kyle Guske II, Senior Investment Analyst, MBA
October 1, 20190Comments

EBITDA and Adjusted EBITDA

Adjusted EBITDA/EBITA is a more accurate and comparable calculation of companies’ pre-tax cash earnings.
by Sam McBride
Danger Zone
June 10, 20190Comments

Growth Is Only Skin Deep

This company stands out for its falling return on invested capital, overvalued stock price, slowing revenue growth, and declining guest traffic.
by Kyle Guske II, Senior Investment Analyst, MBA
April 22, 20190Comments

Webinar: “Issues with EV/EBITDA & How Debt to Equity Can Mislead Investors” – Hosted by TD Ameritrade

We presented “Issues with EV/EBITDA & How Debt to Equity Can Mislead Investors” on the TD Ameritrade Education platform on April 16, 2019.
by Kyle Guske II, Senior Investment Analyst, MBA
Danger Zone
April 15, 20190Comments

How EV/EBITDA Misleads Investors

EV/EBITDA has many flaws that can make it misleading, such as ignoring real costs and liabilities and not accounting for differences in business models.
by Sam McBride
April 2, 20190Comments

TD Ameritrade to Host our Webinar on April 16, 6pm ET: “Issues with EV/EBITDA & How Debt to Equity Can Mislead Investors”

We will present “Issues with EV/EBITDA & How Debt to Equity Can Mislead Investors” on the TD Ameritrade Education platform.
by Kyle Guske II, Senior Investment Analyst, MBA
April 2, 20190Comments

Interactive Brokers to Host Webinar on April 16, 12pm ET: “Pitfalls of Price-to-Book Ratios, ROE, and EV/EBITDA”

David Trainer, CEO of New Constructs, will present “Pitfalls of Price-to-Book Ratios, ROE, and EV/EBITDA” on the Interactive Brokers Education platform.
by Kyle Guske II, Senior Investment Analyst, MBA
Danger Zone
March 18, 20190Comments

Danger Zone: Incentivizing Executives with Adjusted EBITDA

Both of these companies highlight their adjusted EBITDA growth while economic earnings reveal growing losses.
by Kyle Guske II, Senior Investment Analyst, MBA
February 22, 20190Comments

Misleading Non-GAAP Metrics Are Today’s Filing Season Find

From yesterday's research, our analysts parsed 80 10-K filings and collected 8,940 data points. In total, they made 1,868 forensic accounting adjustments with a dollar value of $1.3 trillion.
by Sam McBride
New Constructs
February 24, 20160Comments

How EV/EBITDA Misses The Point On Valuation

In reality, EV/EBITDA can actually be significantly worse than P/E or P/B ratios because EBITDA ignores certain real costs of doing business like taxes, depreciation, and amortization. Put simply, EBITDA is even farther removed from the real cash flows of the business than EPS or net income.
by Kyle Guske II, Senior Investment Analyst, MBA

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