In Schweser vol 4 page 246 a number of drawbacks to EV/EBITDA multiples is listed in top. It is mentioned that EV/EBITDA will be a better measure to EV than EV/FCFF, when capital expenses equal depreciation expenses. I would say that when this is the case, EV/EBIT is an even better measure as this is after depreciation and then after capital expenses. What do you think?