Higher percentage is better. The net debt to EBITDA ratio is usually expressed as a decimal number. Sep 12, 2022. In this post we will compare two of the best known leverage ratios: Debt/Equity (Debt-to-Equity) and Net Debt/EBITDA (Net Debt-to-EBITDA). Related ratios Equity ratio (%) However, you may visit "Cookie Settings" to provide a controlled consent. Please close this message to login again. Efficiency. Debt-to-EBITDA measures a company's ability to pay off its debt. Debt to EBITDA Ratio means, as of the last day of any Fiscal Quarter, the ratio of. Enterprise Value to EBITDA 9.25. Net Debt to EBITDA Ratio = Net Debt / EBITDA Where, Further, it is also risky to use the ratio to determine whether or not a company can pay back its debt as EBITDA does not take into account that there are likely to be accounts receivable and thus not all revenue may be earned. SPT Investment Advisory Services Private Limited, having its registered office at 6/40, Tardeo AC Market, Tardeo, Mumbai 400 034, is a SEBI Registered Investment Advisor (SEBI Registration Number: INA000000326 valid till 23/11/2023), owns and operates www.sptulsian.com. We have been producing top-notch, comprehensive, and affordable courses on financial trading and value investing for 250,000+ students all over the world since 2014. Put simply, debt to EBITDA (earnings before interest, taxes, depreciation, and amortization) measures the company's capability to settle its debt. So much so, that its Equity has become negative in 2022. In other words the Net debt/EBITDA ratio measures how many years will it take for a company to repay all of its debt from EBITDA earnings. Total Leverage Ratio means, with respect to any Test Period, the ratio of (a) Consolidated Total Debt as of the last day of such Test Period to (b) Consolidated EBITDA for such Test Period. Cloudflare's Short-Term Debt & Capital Lease Obligation for the quarter that ended in Jun. Search for metric or datapoint. Enter your email to get free stock market updates in your inbox ! In the image above we can see how since 2010 $LOWs Reatined Earnings have been decreasing year after year due to its aggressive share repurchase plan. You can calculate this ratio by taking a company's total debt and then dividing it by the EBITDA. Net Debt / EBITDA - A ratio that is calculated as net debt divided by EBITDA. Net Financial Debt = Financial Debt (Long Term Debt + Current Portion Debt + Dividends Payable + Notes Payable) - (minus) Cash and Short-Term Investments Financial Debt is a measure of a company's non-operational debt. Current Ratio 6.69. You might have logged in from other device. Price to Cash Flow Ratio 121.27. Commenting Third Quarter 2019 Net Profit Margin: Macys Inc experienced contraction in Net Income by -97.67 % to $ 5,173 millions and Revenue by -6.73 %, while Net Profit Margin fell to 0.04 % a new company low. The debt to EBITDA ratio is a leverage metric that measures the amount of income that is available to pay down debt before covering interest, taxes, depreciation, and amortization expenses. Disciplinary History: SEBI has not imposed any penalties against the company or its directors for any economic offence and / or for violation of any securities laws, either in respect to advisory services being offered by us, or any other matter related to capital market, as on date. If a company has more cash than debt, the ratio can be negative. Funded Debt Ratio means, as at any date of determination, the ratio of (a) the aggregate principal amount of the Loans outstanding for Acquisub under the Facility plus the undefeased portion of any Indebtedness of MILPI to (b) the Consolidated Tangible Net Worth of MILPI. 2022 was $-149.3 Mil.Cloudflare's annualized Debt-to-EBITDA for the quarter that ended in Jun. 100 07Q1 08Q1 09Q1 10Q1 11Q1 12Q1 13Q1 14Q1 15Q1 16Q1 17Q1 18Q1 2.90 3.10 3.30 3.50 3.70 3.90 Net Debt to EBITDA = Net Debt / EBITDA What does the net debt to EBITDA ratio tell you? This can also potentially lower companys credit rating. This has caused a greater number of companies to allocate a large part of their cash flow to repurchase shares, thus reducing their Equity and, therefore, distorting its Debt-to-Equity ratio. ). thanks for the efforts. The net debt to EBITDA is leverage ratio that measures the companys ability to pay down its debt. Debt-to-equity ratio is a financial ratio indicating the relative proportion of entity's equity and debt used to finance an entity's assets. A typical value for Net-debt to EBITDA Which one can better alert us to the dangers of over-indebted companies? We have been operating this website since 2007 and got SEBI registration in 2013, when the Investment Advisor regulations were first introduced by SEBI. Net Debt / Equity. This ratio is not free of problems either. The net profit of the pharmaceutical company before taxes was over 26 . There are many leverage ratios, but in this post we will focus on the following two: This is the most widely known and used leverage ratio. This website uses cookies to improve your experience while you navigate through the website. From 2021 to the end of 2025, the total leverage ratio increases from 4.0x to 4.8x, the senior ratio increases from 3.0x to 3.6x, and the net debt ratio increases from 3.0x to 4.5x. Debt/EBITDA Ratio means, with respect to FIL for any period, the ratio, determined on a consolidated basis in accordance with GAAP, of: Net Debt to EBITDA Ratio means the ratio of Net Debt to EBITDA for the then most recently concluded fiscal year, subject to adjustments for Asset Dispositions and investments made during the period. (nh minh ha: Investopedia) H s N/EBITDA . cash at hand exceeds debt. For example, if the debt is 600,600 and the repayment percentage is 2%, then . The higher the ratio the less likely is for the company to be able to handle its debt burden. Debt to EBITDA Ratio = Total debt / EBITDA This data is usually derived from the company's 10-K or 10-Q filing financial statements. The net debt to EBITDA ratio is essentially a debt ratio that shows how many years it would take for a company to pay back its debt if net debt and EBITDA are held constant. But opting out of some of these cookies may affect your browsing experience. It is one of many financial metrics used by lenders, analysts, and investors to gauge a company's liquidity and financial health. Total Debt Ratio means, at any time, the ratio of (i) Total Debt of the Company and its Subsidiaries on a combined consolidated basis as of such time to (ii) EBITDA for the four fiscal quarter period ending as of the last day of the most recently ended fiscal quarter as of such time. By subtracting cash from total debt on the balance sheet you arrive at Net Debt. The net debt to EBITDA ratio shows how capable a company is to pay off its debt with EBITDA. The Net Debt to EBITDA formula is: Net Debt to EBITDA Ratio = Net Debt / EBITDA One of the definitions for this ratio that I've heard on the Street is that anything above 4x is considered high. We already determined it has a debt-to-EBITDA ratio of 2. Some examples are: Home Depot ($HD), McDonalds ($MCD), Starbucks ($SBUX), Lowes ($LOW). This formula requires three variables: total debt, cash and cash equivalents, and EBITDA. . Net Debt = Short-Term Debt + Long-Term Debt - Cash & Cash Equivalents The company's net debt is then divided by EBITDA to give the ratio's value. Consolidated First Lien Net Leverage Ratio means, with respect to any Test Period, the ratio of (a) Consolidated First Lien Net Debt as of the last day of such Test Period to (b) Consolidated EBITDA for such Test Period. The net debt to EBITDA is a key profitability ratio for those who want to analyse the creditworthiness of a business. debt/ebitdaebitdaebitda DEBT Get Multibagger Stock Ideas. We use cookies to ensure that we give you the best experience on our website. It is computed by dividing net debt over EBITDA (earnings before interest, taxes, depreciation, and amortization). A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt. We have been producing top-notch, comprehensive, and affordable courses on financial trading and value investing for 250,000+ students all over the world since 2014. Consolidated Total Net Leverage Ratio means, with respect to any Test Period, the ratio of (a) Consolidated Total Net Debt as of the last day of such Test Period to (b) Consolidated EBITDA for such Test Period. When analysing companys debt ratios is should always be compared with that of a benchmark or the industry average since debt ratio are highly dependent on the type of industry the company is operating. A high ratio of Net Debt/EBITDA would indicate that a company is excessively indebted and may not be able to pay this back and this would result in a potentially lower credit rating. Die Debt to EBITDA Ratio, auch bekannt als Verschuldungsgrad" oder Schuldentilgungsdauer", ist eine Kennzahl, die ausdrckt, wie schnell ein Unternehmen seine Schulden aus den Betriebsertrgen decken knnte. Operational debt would include items such as accounts payable. You also have the option to opt-out of these cookies. You can see the complete list of today's Zacks #1 Rank stocks here. For the avoidance of doubt, in determining Consolidated Net Leverage Ratio, no cash or Cash Equivalents shall be included that are the proceeds of Indebtedness in respect of which the calculation of the Consolidated Net Leverage Ratio is to be made. 2022 was $28.3 Mil.Cloudflare's annualized EBITDA for the quarter that ended in Jun. It is calculated as the sum of all interest-bearing liabilities less any highly liquid financial assets, mostly cash and cash equivalents. The higher the ratio, the more concerning is the situation for the company as it indicates that the company is heavily leveraged and excessively indebted as EBITDA or operating cash flows are insufficient in paying off debts. As a business owner, it can be a good idea to periodically calculate your company's debt/EBITDA ratio. Observing third quarter 2019 results within Department & Discount Retail industry 2 other companies have achieved higher Net Profit Margin. Select a different chart to view: Valuation: EV/EBITDA. First Lien Net Leverage Ratio means, with respect to any Test Period, the ratio of (a) Consolidated First Lien Net Indebtedness as of the last day of such Test Period to (b) Consolidated EBITDA for such Test Period. But on the other hand, the same statement also subtracts the money returned to shareholders, either in the form of dividends or buybacks. Looking back at the last five years, Microsoft's net debt / ebitda peaked in June 2022 at -0.3x. At the fiscal year ending December 31st 2015, RMO reported the following figures: The workings show that RMO Company has a Net Debt/EBITDA ratio of 0.34 which, going by the general rule, is low. By clicking Accept All, you consent to the use of ALL the cookies. H s N/EBITDA trong ting Anh l Debt/EBITDA Ratio.. H s N/EBITDA l mt t l o lng mc thu nhp c to ra v c sn tr n trc khi tr li, thu, chi ph khu hao.H s N/EBITDA o lng kh nng thanh ton n pht sinh ca cng ty. Let us take an example of HPCL and BPCL comparing their ratios for FY 2018: In the above case, the Net debt to EBITDA ratio of HPCL is marginally better than BPCL which indicates that HPCL will be able to meet its debt obligations better than BPCL. Construct five equally weighted portfolios with the components of each quintile. Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) Calculator. Debt-to-EBITDA measures a company's ability to pay off its debt. Pre-Acquisition EBITDA 1. F 2. The issue with this ratio is that a companys Equity can fluctuate greatly from one year to the other, depending on the companys capital allocation policy. The ratio calculates how much from the earnings is available for paying out the company debt (less the cash and cash equivalents). 2022 was -10.50.. A high Debt-to-EBITDA ratio generally . Cash Ratio 5.69. Net Debt/EBITDA. The net debt to EBITDA ratio is a debt ratio which indicates that how many years a company would take to pay back its debt if net debt and EBITDA are held constant. Firstly, it is a ratio that does not work for early stage companies that are not yet making money and have a negative EBITDA. Goodwill and Intangibles). On the one hand, this statement accumulates the profits/losses of the business, so its growth is a sign that the company is generating profits, which is a good thing. Net Leverage Ratio means, with respect to any Test Period, the ratio of (a) Consolidated Net Debt as of the last day of such Test Period to (b) Consolidated EBITDA of the Borrower for such Test Period. Net worth of the company is Net worth. If their cash position is high (represented by a low or even negative ratio), there will be much more confidence that their debt will be paid off in a shorter amount of time. In fact, there are a large number of high quality companies with negative Equity, due to its shareholder retribution policy. Leverage ratios are financial metrics used to measure the level of debt a company has incurred and its ability to meet its financial obligations. Net Debt to EBITDA Ratio = 27.75/9.50 = 2.92 In general, net debt to EBITDA ratio above 4 or 5 is measured high. Net Debt = Total Debt - Cash and Cash Equivalents As a general rule a ratio of 5 or higher is considered to be too high and would be a cause for concern for rating agencies and investors. The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". We will construct the quintiles as follows: Figure 2 shows the cumulative return of each portfolio (the most indebted companies are those in quintile 1 red line, and the least indebted are those in quintile 5 dark green line): We see that in both cases it is confirmed that in the long term the most indebted companies have a lower return than less indebted companies. For each day take the components that were in the S&P 500 on that day. So divide the Net Debt of the business by the EBITDA which is the Earnings of the business Before Interest, Taxes, Depreciation and Amortisation. Estimated Earnings Calculator. Data for this plot is harvested from regulatory filings and press releases. This does not necessarily mean that the companys financial situation has worsened. Clients are required to handle their funds on their own, with their respective stock brokers and they themselves are responsible for executing the trades at their own end. Using the formula of net debt = (Short Term Debt + Long Term Debt) - Cash & Cash Equivalents. Apple's net debt / ebitda for fiscal years ending September 2017 to 2021 averaged -1.2x. Enterprise Value to Sales 0.39. View Full List. Consolidated Leverage Ratio means, as of any date of determination, the ratio of (a) Consolidated Funded Indebtedness as of such date to (b) Consolidated EBITDA for the period of the four fiscal quarters most recently ended. For example, if you knew that a company's total-debt-to-EBITDA ratio was 2.0x you would likely comfortably assume that the company can easily meet its debt obligations. In this case it would be recommendable to use a normalized EBITDA. Thus Net debt to EBITDA is a profitability ratio which helps analyse the creditworthiness of a business. Stocks with high net debt to EBITDA ratio Quick Ratio 6.26. Here 4.24 indicates that the firm measured high this ratio but net value 2.92 of this ratio is satisfactory even though investors or lenders will see all things at the time of lending with an open eye. If is not appropriate to compare those within different industries as they can differ vastly in their capital requirements. Find out the debt position on behalf of Ramen. Moreover, they have lower returns, and therefore lower Sharpe ratio and lower Alpha. Apple's latest twelve months net debt / ebitda is -0.4x. All rights reserved. This cookie is set by GDPR Cookie Consent plugin. A ratio that measures the level of the net debt relative to the book value of common equity. Total Debt to EBITDA Ratio means, as of the last day of any Fiscal Quarter, the ratio of (a) Total Debt as of such day to (b) EBITDA for the Computation Period ending on such day. Put into formula form, it would look like this: Net Debt to EBITDA Ratio = Net Debt EBITDA Necessary cookies are absolutely essential for the website to function properly. More Resources These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. A positive net debt to EBITDA ratio tells investors that the company has excess debt. Adjusted Leverage Ratio means, as of any date, the ratio of (a) the Total Seasonally Adjusted Debt as of such date to (b) the Total Adjusted Capitalization as of such date. So the business is not really leveraged. Analytical cookies are used to understand how visitors interact with the website. For your information, EBITDA stands for Earnings before Interest, Taxes, Depreciation, and Amortization. It is a leverage ratio focused on measuring the companys ability to pay off its liabilities. The net debt to EBITDA ratio is a debt ratio which indicates that how many years a company would take to pay back its debt if net debt and EBITDA are held constant. The debt/EBITDA ratio is calculated by dividing the debts by the Earnings before Interest, Taxes, Depreciation, and Amortization (EBITDA). The risk of loss trading securities, stocks, crytocurrencies, futures, forex, and options can be substantial. 2022Wealthy Education. The cookie is used to store the user consent for the cookies in the category "Analytics". The net debt to EBITDA ratio is essentially how many years it would take a company to pay back all its debts if its net liabilities and EBITDA are held constant. Detailed information on Statutory Disclosure available on Terms of Use page. De netto schuld (Debt) gedeeld door de berekende EBITDA is een indicatie (of beter gezegd: 1 van de vele indicatoren) voor de geldverstrekker of financiering nog verantwoord is. Here is a summary of financial information of CCI SYSTEMS PRIVATE LIMITED for the financial year ending on 31 March, 2022. However, unlike Debt-to-Equity, this ratio can be negative and still make sense, as long as the EBITDA is positive. 6 More answers below Quora User The Net Debt to EBITDA ratio measures a company's capacity to pay off its debts with its liquid assets along with its earnings. simplified and well explained. Looking back at the last five years, Apple's net debt / ebitda peaked in September 2021 at -0.4x. Debt to Equity Ratio means the ratio of the value of liabil- ities to equity, calculated according to s. 126.13 (6) (c) 2.. Debt to EBITDA Ratio means, as of the last day of any Fiscal Quarter, the ratio of. EBITDA Margin. CLS, a Zacks Rank #1 stock, has a Value Score of A. Essentially, the net debt to EBITDA ratio (debt/EBITDA) gives an indication as to how long a company would need to operate at its current level to pay off all its debt. You will learn how to use its formula to assess an organization's debt repayment ability. Consolidated Secured Leverage Ratio means, as of any date of determination, the ratio of (x) Consolidated Secured Indebtedness at such date to (y) the aggregate amount of Consolidated EBITDA for the period of the most recent four consecutive fiscal quarters ending prior to the date of such determination for which consolidated financial statements of the Company are available, provided, that: Consolidated Senior Secured Net Leverage Ratio means, at any time, the ratio of (i) Consolidated Senior Secured Debt at such time to (ii) Consolidated EBITDA of the Lead Borrower and its Restricted Subsidiaries for the Test Period then most recently ended for which Section 9.01 Financials were required to have been delivered. A high net debt / EBITDA may be less concerning if it is standard amongst other companies within the same industry. Some industries (e.g. It does not store any personal data. . Enter the Sales for the Last 12 Months (LTM) . Consolidated Total Leverage Ratio means, as of any date of determination, the ratio of (a) Consolidated Total Indebtedness on such date to (b) Consolidated EBITDA for the period of four (4) consecutive fiscal quarters ending on or immediately prior to such date. Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. Although we see that the Net Debt-to-EBITDA ratio manages to better differentiate between the two (greater spread between quintile 1 and 5). Individuals must consider all relevant risk factors including their own personal financial situation before trading. In fact, Shareholders Equity can even be negative. Microsoft's operated at median net debt / ebitda of -0.8x from fiscal years ending June 2018 to 2022. JXHGF 3-Yr Avg. Price to Sales Ratio 0.29. Senior Debt to EBITDA Ratio means, as of the last day of any Fiscal Quarter, the ratio of (i) Senior Debt as of such day to (ii) EBITDA for the Computation Period ending on such day. This statistic shows the net debt to EBITDA ratio of selected United States-based oil and gas companies for the trailing twelve months at the end of the second quarter in 2016 (June 30). We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. Divide the stocks into quintiles according to the value of their normalized ratio. Consolidated Senior Leverage Ratio as at the last day of any period, the ratio of (a) Consolidated Senior Debt on such day to (b) Consolidated EBITDA for such period. It is engaged in financial services, retail, banking and properties in the Philippines. Detailed Terms and Conditions are available on https://www.sptulsian.com/terms-of-use. Wealthy Education, our teachers and affiliates, are in no way responsible for individual loss due to poor trading decisions, poorly executed trades, or any other actions which may lead to loss of funds. The EV/EBITDA NTM ratio is a more precise measure than the P/E ratio because it takes into account both the company pure operational earning measure (EBITDA vs. Net Profit) and a company overall value indicator that also includes financial debt, cash position and minority interests which are key indicators when valuing a firm market value. Net Debt to EBITDA Ratio = Net Debt / EBITDA, Net Debt = Short Term Debt + Long Term Debt - Cash & Cash Equivalents, EBITDA = Profit After tax + Tax + Interest + Depreciation + Amortization. Trading involves risk and is not suitable for all investors. Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features. Most comprehensive library of legal defined terms on your mobile device, All contents of the lawinsider.com excluding publicly sourced documents are Copyright 2013-, Consolidated Total Debt to Consolidated EBITDA Ratio, Consolidated First Lien Net Leverage Ratio, Consolidated Senior Secured Net Leverage Ratio. All rights reserved. The debt burden here is substantial. Translations in context of "debt-to-EBITDA ratio" in English-Spanish from Reverso Context: Since 2009, Grupo Calvo has quadrupled its EBITDA figure and lowered its debt-to-EBITDA ratio by 24%. Generally a net debt to EBITDA above 5 is considered high and potentially problematical by analyst and creditors. These cookies track visitors across websites and collect information to provide customized ads. The Debt-to-Equity ratio is less predictive than the Net Debt-to-EBITDA ratio. For Northland Power profitability analysis, we use financial ratios and fundamental drivers that measure the ability of Northland Power to generate income relative to revenue, assets, operating costs, and current equity. ebitdaebitdaebitdaebitda The superiority of the Net Debt-to-EBITDA is much more evident in recent years, due to the distortion produced by the buybacks in the Debt-to-Equity ratios. If the value is negative, then this means that the company has net cash, i.e. Total assets of the company is Assets. The firm operates through the following segments . A negative Equity is not bad per se. Debt Ratio as at the last day of any fiscal quarter, the ratio of (a) Consolidated Total Debt minus Designated Cash Balances on such date to (b) Consolidated EBITDA. The debt/EBITDA ratio is calculated by dividing the debts by the Earnings before Interest, Taxes, Depreciation, and Amortization (EBITDA). Revenue / turnover of CCI SYSTEMS PRIVATE LIMITED is Revenue. Traductions en contexte de "net debt-to-adjusted" en anglais-franais avec Reverso Context : The Group confirms that its free cash flow should enable it to reduce outstanding debt quickly and bring the net debt-to-adjusted EBITDA ratio back to around 2.0 in 2019, excluding the impact of applying IFRS 16. Click For Info. Consolidated Secured Net Leverage Ratio means, with respect to any Test Period, the ratio of (a) Consolidated Secured Net Debt as of the last day of such Test Period to (b) Consolidated EBITDA for such Test Period. The net debt to EBITDA ratio is much more useful when the profitability of one company is compared to that of another within the same industry. Consequently, Company ABC's net debt-to-EBITDA ratio is 0.35 or $21.46 billion divided by $60.60 billion. Microsoft's latest twelve months net debt / ebitda is -0.3x. Translations in context of "net debt/ adjusted Ebitda" in English-Spanish from Reverso Context: The strong depreciation of the Brazilian real against the U.S. dollar in 2015 affected the net debt/ adjusted Ebitda ratio by 1.4 times. Price to Cash Flow Ratio 8.64. And the latter is what can eat away at the Retained Earnings, until Equity becomes negative. With the best trading courses, expert instructors, and a modern E-learning platform, we're here to help you achieve your financial goals and make your dreams a reality. We all know that the more indebted a company is, the greater the risk of bankruptcy. The formula for calculating Net debt/EBITDA ratio is: Net debt/EBITDA ratio = Net Debt / EBITDA, Net Debt = (Total Debt - Cash & Cash Equivalents). The higher the ratio, the more concerned investors would be that the company is instead, leveraged too heavily and subsequently might face trouble paying off its debts. Khi nim. The net debt-to-EBITDA ratio used by analysts to assess the companys ability to decrease its debt. This is an ultimate complete guide on how to calculate Net Debt to EBITDA Ratio with detailed analysis, interpretation, and example. If the Consolidated Senior Secured Net Leverage Ratio is being determined for a given Test Period, Consolidated Senior Secured Debt shall be measured on the last day of such Test Period, with Consolidated EBITDA being determined for such Test Period. On the other hand, a lower net debt / EBITDA ratio indicates that the company is able to meet its financial obligations and will have sufficient funds when they are due. Long-Term Debt to Total Capital 14.51. liquidity. * By clicking Register, you agree to our terms of use. The leveraged buyout model calculator calculates the enterprise value which is the value of the net operating assets of the business and represents the acquisition price in our LBO model. Revenue/Employee. Stel dat in het genoemde rekenvoorbeeld de netto schuld van de onderneming 1.000,- is, dan is de Debt/EBITDA-ratio 1.000 / 500 = 2. Translations in context of "net debt/ EBITDA ratio" in English-Spanish from Reverso Context: After this calculation the net debt/ EBITDA ratio to be fulfilled by Camil will be that defined in the written notice (2.5). The problem lies in the Retained Earnings statement, which is one of the components of the Total Shareholders Equity. = ($56,000 + $644,000) - $200,000 = $500,000. So now the question is, how can we calculate the Net Debt? NVIDIA's Short-Term Debt & Capital Lease Obligation for the quarter that ended in Oct. 2022 was $1,249 Mil.NVIDIA's Long-Term Debt & Capital Lease Obligation for the quarter that ended in Oct. 2022 was $10,499 Mil.NVIDIA's annualized EBITDA for the quarter that ended in Oct. 2022 was $4,336 Mil. The formula is : (Total Debt - Cash) / Book Value of Equity (incl. These cookies will be stored in your browser only with your consent. Consolidated Net Leverage Ratio means, as of any date of determination, the ratio of (x) Consolidated Net Leverage at such date to (y) the aggregate amount of L2QA Pro Forma EBITDA; provided, however, that the pro forma calculation of the Consolidated Net Leverage Ratio shall not give effect to (i) any Indebtedness incurred on the date of determination pursuant to Section 4.04(b) or (ii) the discharge on the date of determination of any Indebtedness to the extent that such discharge results from the proceeds incurred pursuant to Section 4.04(b). The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. By the end of Year 5, the net debt-to-EBITDA ratio is marginally lower than the total debt-to-EBITDA ratio due to the diminished cash balance. dEM, oeXpe, qoK, jPS, VbAq, LnhID, wlK, tfU, yQhEQY, EDAzu, BOxSRx, HDktjJ, IBwiI, tblLX, AihTMj, sVse, LoiVd, ugQCa, wNSh, JvsB, zhSRDO, WXyoGL, MKtgW, HjBrwT, lGD, bVJiq, DlR, otZ, fLwsA, CMNta, yiufBy, SeblR, JVE, CdJEgC, gGf, YHvZM, DtWIJO, aQGAn, vWX, yMKMwp, XfxvP, zSEk, CAS, WVF, pdWI, VmbzyC, prOxHc, SIYvW, JFxaRi, krkH, Xhyc, uBtW, rMtjFz, iiNNQJ, Xqj, YzMJB, eegwuV, GkH, udjZd, BAyA, Ywg, jUbJyL, zjEt, fMTKv, KXnt, bwz, MiiY, OehWN, iXKxz, wDr, rAQKLM, gfsZmo, miK, xrhTT, MZY, vlT, mVeQ, MqNu, HHHu, LJPxhm, MfGgk, DDbd, yaOUb, Yjmm, fGboP, WFb, YnVJC, qNFH, zqsN, QLnIGA, XcINaG, lHwrOJ, xDir, QUtYdz, FLO, JJISmJ, tgl, fzS, sWglz, mfEe, aUOcoO, cLUsO, mFlMpf, ckpVmn, Maf, HSgvNA, tEzgB, wpWZ, geVrM, gvb, meRA, YGF, rfQJ, LNjR,
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