Earnings before interest, taxes, depreciation and amortization.

On one hand, EBITDA is a measure of company's profitability that helps to make comparing of companies without taking into account their capital structure, taxes regimes and other financing and accounting decisions. On other hand, there are a lot of EBITDA critics, Warren Buffett is among them, who argue that different expenditures, especially CAPEX, that are not taking into account in EBITDA calculation can be large and not unique in company's normal course of business, so use of EBITDA as profitability measure can be misleading.

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