EBITDA (Estimates)
  Definition
  
Earnings Before Interest, Taxes, Depreciation & Amortization is sales minus current operating expenses.

  Calculation Rules
  
EBITDA = Net sales
 - Operating expenses (COGS, SG&A)
 - R & D expenses
 - Net provisions
 + Associated companies & income.

Consensus estimates calculated by FactSet are based on estimates that have been validated via broker research within the past 100 days.

  Comment
  
EBITDA/Net sales is commonly used to measure the profitability of a company, as well as EBIT/Net sales. EBITDA provides a better comparison between companies from different countries as it avoids the impact of different domestic amortization rules. EBITDA is also useful when comparing companies from different sectors in the same country, as amortization rates are closely linked to the business itself.
EBITDA is a non-GAAP figure, so it can include potential non-recurring items as well as any other exceptional items. This data item is not available for banking, multi-financials, and insurance companies.

  Reference
  
EBIT

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