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...Its leverage will be 3.9 times ebitda, high but manageable given the lower volatility in earnings....
...It reported adjusted ebitda in the first quarter of $871mn, surpassing analysts’ estimates of $840mn. Shares fell 3.29 per cent in early trading in New York....
...It deserves chunky discounts to US beauty giant Ulta, on 14 times ebitda, and European retailers such as Inditex, on 12 times ebitda....
...It’s hardly the biggest problem here, but sorry two-way zips just look wrong: For the fashion-backward, this is the Cavour EBITDA Luxury Cashmere Vest, a leader in the extraordinarily expensive gilet category...
...Assume it continues to outperform and sales grow by a 10th this year, ebitda margins stay at 20 per cent and net debt remains roughly constant....
...It targets 7-10 per cent sales growth in 2024, with an ebitda margin around 23 per cent. Its leverage, too, should reach an acceptable 2.5 times ebitda after the IPO, down from near 5 times today....
...The main one is Rio’s reliance on iron ore, which in 2023 accounted for more than 80 per cent of group underlying ebitda....
...Moreover, Lyft for now can only aspire to turn half of accounting-based ebitda into actual free flow....
...The US group is suffering its own squeeze, with 2024 ebitda projected to hit $165mn, down from $260mn in 2022. It does not have much leverage....
...Worley, Jacobs and Fluor trade at about 10 times ebitda because they’ve shown they can win lots of small-scale projects, so are much lower risk....
...Upon the completion of the Italian and Spanish sales, Vodafone will have reduced leverage, from about 2.5 times 2024 ebitda to about 1.8 times the ebitda of its remaining units....
...S4 Capital said “despite the possibility of interest rate reductions later in 2024”, it expected a broadly similar overall level of operational ebitda and a fall in like-for-like net revenue next year....
...The UK’s Deliveroo reckons it will do slightly better than its guidance of £60-80mn adjusted ebitda. Earlier in the week, Just Eat pointed to above-guidance adjusted ebitda of some €320mn....
...Ebitda is an income statement figure that is often seen as akin to cash-based operating profit....
...On an enterprise value to forward ebitda ratio of over 5 times, it trades at a premium to all its regional peers. Galp will certainly need help....
...Despite healthy ebitda improvement in its iron ore and copper divisions Anglo’s ebitda fell nearly a third in 2023 to $10.2bn....
...Vivid Seats, a much smaller ticket reselling platform, trades on an EV/ebitda multiple of over 13 times. Live Nation is on just 12 times....
...That leaves adjusted ebitda, which has to change from the pre-print expectation of $320mn to around $1bn....
...The enterprise value/ebitda figure for renewables specialists stands at 11.5 times, whereas the average for the oil majors is only 4.0 times....
...That was about 17 times ebitda. Enter Bain and allies, representatives of a much more aggressive breed of private lenders....
...In 2019, it generated nearly $350mn in annual ebitda. Since the pandemic, however, listening has fallen by a quarter. Streaming services are luring audiences away....
...That would have left Vodafone with cash and securities worth €10.5bn, or eight times its Italian unit’s forecast ebitda after lease payments....
...It had sales of €130mn in 2023 and earnings before interest, taxes, depreciation and amortisation of €30mn — valuing the company at a multiple of 11 to 12 times ebitda....
...Bayer warned investors that ebitda would fall further this year to around €11bn....
...Assuming €9-11bn EV and our FY22E (30 April YE) DS Smith EBITDA of £937m (or €1,087m), it would imply Mondi being on >4x pro-forma 2022 net debt/EBITDA (FY21: 1.3x), which is above Mondi’s 3.5x debt covenant...
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