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Glossary

EBITDA

An approximation of the cash the operation generates: operating result plus depreciation and amortization.

What it is

An approximation of the cash the operation generates: operating result plus depreciation and amortization. Shown on the stocks pages.

How Dados B3 calculates it

EBIT + depreciation and amortization, read from the cash flow statement. Amortization of debt costs is left out; amortization of assets (goodwill, intangibles, right-of-use) is included. Without the depreciation line the figure is not published, never estimated. It does not exist for banks and insurers.

Example

Illustrative example, with made-up numbers to keep the arithmetic easy: EBIT of R$ 150 million and depreciation and amortization of R$ 100 million: EBITDA = R$ 250 million.

What to watch for when reading it

• It is not real cash: it deducts no investment, interest or taxes.
• The EBITDA a company publishes in its own report may use adjustments; here it is the one from the CVM statements.
• The stock page shows 12-month EBITDA when every piece exists.

See also

• Net debt / EBITDA
• EV/EBITDA
• EBITDA margin

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Educational content to understand what each number means. It is not a recommendation to buy or sell.