Adjusted EBITDA

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rofl

its alwasy important to remove one time expenses that are recurring and growing to show better earnings improvement over time.

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This one company I cover has gone over and beyond in adjustments. In addition to Adjusted EBITDA that removes expenses for integration, restructuring, cost efficiency program, strategy improvement, etc they also report this pro forma comparable EBITDA that brings forward expected savings for future periods :smiley:

i see this all the time in PE. when it comes to pro forma models they are best in class utilizing unheard of cap rates and exit multiples to beef up marketed IRRs.