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But generally speaking, if you WANT to reflect the impact of capital expenditures and it's important
to do so for the company/industry you're in, EBIT is better than EBITDA.
Whereas EBITDA might be better in an industry where CapEx is less important, such as
software/Internet/services/anything else where R&D exceeds investments in hard assets.
But it also depends on a company's state of development -- CapEx is almost always more important to
quickly growing companies, whereas it is less important for mature, stable companies! Regardless of the
industry.
As for Net Income, you usually look at it as a *supplement* to other metrics and multiples -- on its own, it
doesn't necessarily give you a great / accurate view of a company because it's distorted by different tax
rates, capital structures, and so on.