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发表于 2009-6-24 12:04 AM
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http://www.hutong9.com/viewthread.php?tid=31431&;extra=page%3D1
What Does Earnings Before Interest, Taxes, Depreciation and Amortization - EBITDA Mean?
An indicator of a company's financial performance which is calculated in the following EBITDA calculation:

EBITDA can be used to analyze and compare profitability betweencompanies and industries because it eliminates the effects of financingand accountingdecisions. However, this is a non-GAAP measure that allows a greateramount of discretion as to what is (and is not) included inthe calculation. This also means that companies often change the itemsincluded in their EBITDA calculation from one reporting period to thenext.
When a company is valued using EBITDA - it is known as a EBITDA Valuation.
Investopedia explains Earnings Before Interest, Taxes, Depreciation and Amortization - EBITDA...
EBITDAfirst came into common use with leveraged buyouts in the 1980s, when itwas used to indicate the ability of a company to service debt. As timepassed, it became popular in industries with expensive assetsthat had to be written down over long periods of time. EBITDA is nowcommonly quoted by many companies, especially in the tech sector - evenwhen it isn't warranted.
A common misconception is that EBITDA represents cash earnings.EBITDA is a good metric to evaluate profitability, but not cash flow.EBITDA also leaves out the cash required to fund working capital andthe replacement of old equipment, which can be significant.Consequently, EBITDA is often used as an accounting gimmick to dress upa company's earnings. When using this metric, it's key that investorsalso focus on other performance measures to make sure the company isnot trying to hide something with EBITDA
什么是EBITDA?
CoolMax 发表于 2009-6-24 00:15  |
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