Earnings before interest, dividends, taxes, depreciation and amortization (EBITDA)

Earnings before interest, dividends, taxes, depreciation and amortization (EBITDA) is a form of cash flow measure, useful for evaluating the operating performance of companies with high levels of debt (when the debt service costs may overwhelm other measures such as net income). [Source: Casualty Actuarial Society (CAS) Overview of Enterprise Risk Management ]

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