EBITDA
EBITDA is earnings before interest, tax, depreciation and amortisation — an attempt to show what the operation produced with the effects of borrowing, tax regime and past investment stripped out.
How it is computed here
| Formula | operating income + depreciation and amortisation |
|---|---|
| Unit | Currency amount |
| Period | One fiscal year, as reported |
| Source | Extracted from SEC filings; every value on an asset page carries the accounting tag and the filing it came from |
| Identifier | ebitda |
What goes into the formula
| Operating income | The result of the business before interest and tax, as reported. |
|---|---|
| Depreciation and amortisation | This year's charge for assets bought in earlier years, taken from the cash flow statement, where it is reported as a non-cash add-back. |
A formula without its inputs explained is decoration. Where an input is missing from a filing, the metric is left empty here rather than completed with a zero or an estimate.
How to calculate ebitda, step by step
A capital-heavy company — a cable operator, a shipping line, a telecom.
| Operating income | $400M |
|---|---|
| Depreciation and amortisation | $350M |
| Interest paid | $200M |
| Capital expenditure | $380M |
- EBITDA = 400 + 350 = $750M.
- That $750M is the figure the company will put on the first slide.
- But the assets still wore out ($350M), the lenders were still paid ($200M), and the plant still had to be kept up ($380M).
- After those: 750 − 200 − 380 = $170M, before tax.
Result: $750M of EBITDA, $170M of anything resembling free cash
EBITDA nearly doubled the headline. The gap is not fraud — it is precisely the costs EBITDA is defined to exclude, in a business where those costs are the business.
The figures in this example are illustrative and rounded — they are not a real company. The real figures on this site are the live ones below and on every asset page, each carrying the filing it came from.
What ebitda is good for
For a company whose assets last decades, comparing operating income across years is distorted by depreciation schedules set long ago. EBITDA removes that distortion, which is why lenders use it: debt covenants are commonly written as a multiple of it.
What this number does not tell you
EBITDA is not cash and it is not a regulated accounting figure — there is no single definition, and companies compute it their own way, which is why this site computes one consistent version rather than repeating the company's. It deliberately ignores the cost of the assets the business consumes, which for a capital-intensive company is not a detail but the main event. Read it beside free cash flow or not at all. The gap this entry describes is measurable across the site. Of the 4,616 companies with a computable EBITDA, 3,061 report an EBITDA more than double their net income. That count needs splitting: 2,182 of them have zero or negative profit, where "double" is arithmetic without meaning. The number that matters is the other one — 879 profitable companies whose EBITDA is still more than twice what they actually earned. In those 879 the distance between the two figures is the interest, depreciation and tax that the headline number sets aside.
Every metric on this site is published with its blind spot stated. A figure without its limit is half a fact.
Highest reported ebitda
| MSFTMICROSOFT CORP | $189.5B |
|---|---|
| GOOGAlphabet Inc. | $150.2B |
| GOOGLAlphabet Inc. | $150.2B |
| AMZNAMAZON COM INC | $145.7B |
| AAPLApple Inc. | $144.7B |
| NVDANVIDIA CORP | $133.2B |
| METAMeta Platforms, Inc. | $101.9B |
| BRK-ABERKSHIRE HATHAWAY INC | $95.9B |
From the most recent fiscal year of each company. Only companies reporting in US dollars are ranked here — a figure in yen or won is not larger, it is in another currency.
See it in a published filing
These pages show the figure across up to nineteen fiscal years, with the accounting tag and the filing behind every value.