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Always ask what's been excluded when someone shows you an adjusted figure.","type":"text","version":1}],"direction":null,"format":"","indent":0,"type":"paragraph","version":1,"textFormat":0,"textStyle":""},{"children":[{"detail":0,"format":1,"mode":"normal","style":"","text":"It doesn't reflect working capital changes.","type":"text","version":1},{"detail":0,"format":0,"mode":"normal","style":"","text":" Fast-growing businesses often need more cash tied up in receivables and inventory. This strain won't show up in EBITDA.","type":"text","version":1}],"direction":null,"format":"","indent":0,"type":"paragraph","version":1,"textFormat":0,"textStyle":""},{"children":[{"detail":0,"format":1,"mode":"normal","style":"","text":"It's not on the income statement.","type":"text","version":1},{"detail":0,"format":0,"mode":"normal","style":"","text":" EBITDA must be manually calculated, and different people may calculate it differently based on what they include in \"operating expenses.\"","type":"text","version":1}],"direction":null,"format":"","indent":0,"type":"paragraph","version":1,"textFormat":0,"textStyle":""},{"children":[{"detail":0,"format":0,"mode":"normal","style":"","text":"None of this means EBITDA isn't useful — it absolutely is. It just means the smartest approach is to use it as one data point alongside net income, operating cash flow, and sector-specific metrics, rather than as the single measure of business health.","type":"text","version":1}],"direction":null,"format":"","indent":0,"type":"paragraph","version":1,"textFormat":0,"textStyle":""},{"children":[{"detail":0,"format":0,"mode":"normal","style":"","text":"Technical Notes","type":"text","version":1}],"direction":null,"format":"","indent":0,"type":"heading","version":1,"tag":"h2"},{"children":[{"detail":0,"format":1,"mode":"normal","style":"","text":"Formula used by this calculator:","type":"text","version":1}],"direction":null,"format":"","indent":0,"type":"paragraph","version":1,"textFormat":0,"textStyle":""},{"children":[{"detail":0,"format":0,"mode":"normal","style":"","text":"EBITDA = Operating Profit + Amortization Expense + Depreciation Expense","type":"text","version":1}],"direction":null,"format":"","indent":0,"type":"quote","version":1},{"children":[{"detail":0,"format":0,"mode":"normal","style":"","text":"This reflects the standard operating income (EBIT) approach to EBITDA calculation, consistent with widely accepted financial analysis and investment banking practice.","type":"text","version":1}],"direction":null,"format":"","indent":0,"type":"paragraph","version":1,"textFormat":0,"textStyle":""},{"children":[{"detail":0,"format":1,"mode":"normal","style":"","text":"Notes on use:","type":"text","version":1}],"direction":null,"format":"","indent":0,"type":"paragraph","version":1,"textFormat":0,"textStyle":""},{"children":[{"children":[{"detail":0,"format":0,"mode":"normal","style":"","text":"All three inputs should cover the same reporting period (monthly, quarterly, or annual) for accurate results","type":"text","version":1}],"direction":null,"format":"","indent":0,"type":"listitem","version":1,"value":1},{"children":[{"detail":0,"format":0,"mode":"normal","style":"","text":"If your business has no amortization expenses, enter 0 in that field","type":"text","version":1}],"direction":null,"format":"","indent":0,"type":"listitem","version":1,"value":2},{"children":[{"detail":0,"format":0,"mode":"normal","style":"","text":"This calculator is designed for quick calculations and informational purposes. For business valuations, loan applications, M&A transactions, or investor reporting, please work with a qualified financial professional","type":"text","version":1}],"direction":null,"format":"","indent":0,"type":"listitem","version":1,"value":3}],"direction":null,"format":"","indent":0,"type":"list","version":1,"listType":"bullet","start":1,"tag":"ul"}],"direction":null,"format":"","indent":0,"type":"root","version":1}}},"id":"6996e83fdbfd440004186317"}]}]}],false]}],"$L32"]}]]}]}]}]]
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