EBITDA — Earnings Before Interest, Taxes, Depreciation, and Amortization — is one of the most widely used shortcuts in finance, and also one of the most debated. The appeal is real: by stripping out interest (a financing decision), taxes (which vary by jurisdiction and situation), and depreciation and amortization (non-cash accounting charges), EBITDA aims to approximate a company's core operating cash-generating…
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