Enterprise Value / Earnings Before Interest, Tax, Depreciation & Amortization

EBITDA measures the earnings coming from a company's continuing activities, thus excluding interest, taxes and accounting treatment of tangible and intangible assets (depreciation and amortization).

Enterprise value is calculated as follows:

Enterprise Value =	Market capitalization + Net debt
Market capitalization =	Total shares outstanding x Share close price
Net debt =	Total interest bearing debt
	+ Redeemable preferred shares
	+ Preferred shares
	- Cash & Equivalents
	- Short Term Investments

NB: The Current Enterprise Value is calculated with the current market capitalization (ie. from close of trade the day before).
The net debt figure is taken from the last annual report of the company.