The EBITDA associated with a company aims to capture the performance of its core operations. The idea is that by ignoring expenses such as taxes, interest, depreciation and amortization, it takes away all the costs not directly related to running the business.
EBITDAs can be helpful when comparing two companies—in a sense, it compares the ability of a company’s managers to make money when debt structure and so on are identical.
EBITDA is often used as a valuation measure in mergers and acquisitions, especially when small businesses or middle market companies are involved. Mergers are when two or more companies combine to form one entity. An acquisition is when a company buys another one.
Of course, though, it’s not possible to isolate out factors like debt. Excess debt and interest costs can be very negative to a company’s earnings and cash flow, and investors need to be aware of that—and factor it into their investment decisions.
Because its limitations, EBITDA is not compatible with the rules of generally accepted accounting principles.
In terms of financial performance, we recommend looking beyond EBITDA for stocks with a long-term record of dividends, a long-term record of profit, an attractive balance sheet, industry prominence or dominance, and the ability to serve all shareholders.
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In general, spinoffs are the closest thing you can find to a sure thing. Study after study has shown that following an initial adjustment period of a few months, spinoffs tend to outperform groups of comparable stocks for several years.
In many cases, we advise investors… Read More
Canadian Pacific’s merger with Kansas City Southern Railway is now complete, the company will now be called Canadian Pacific Kansas City. The merger has boosted its already strong share price. This Canadian railway stock is poised for growth.
This deal is a game-changer for future earnings… Read More
A key reason why spinoffs tend to work out well is because investors prefer “pure-play” firms that they can more easily evaluate and compare to other stocks.
Iconic food maker Maple Leaf Foods now plans to set up its less-profitable hog processing business as a separate,… Read More
2024 is the fifth year in a row we selected CP Rail (now CPKC after its merger with U.S.-based railway Kansas City Southern) as your #1 Conservative Buy. If you bought the stock five years ago, at the start of 2019, you’ve enjoyed a 121%… Read More
PEMBINA PIPELINE CORP. $50 is a buy. The company (Toronto symbol PPL; High-Growth Dividend Payer Portfolio; Utilities sector; Shares outstanding: 579.5 million; Market cap: $29.0 billion; Dividend yield: 5.5%; Dividend Sustainability Rating: Above Average; www.pembina.com) operates pipelines that carry half of Alberta’s conventional oil and almost all of B.C.’s… Read More
We often remind investors that a high yield may be a warning sign that all is not well with the company and its future dividend payments are at risk.
After Enbridge’s recent dividend increase, the stock now yields a high 7.6%. Even so, that yield looks… Read More
BOEING CO., $176.56, New York symbol BA, is still a hold.
The company delivered 131 commercial jetliners in the five months ended May 31, 2024, down from 206 a year earlier.
That drop is mainly due to quality control problems with its 737 Max planes. In January 2024,… Read More
IBM has a long history of transforming itself in response to rapid changes in computer technology. In the past few years, it has shifted it focus to its cloud operations, which let users go online to access data files and computer applications stored on remote… Read More
BCE INC., $45.18, Toronto symbol BCE, is still your #1 Income Buy for 2024.
The company is Canada’s largest traditional telephone service provider. It has 1.98 million residential customers in Ontario, Quebec, Manitoba and the Atlantic provinces. It also has 4.50 million high-speed Internet users and… Read More
In 2023, the old ShawCor (now called Mattr) sold its legacy pipeline coating operations and shifted its focus to its liquid storage tank and industrial products businesses. The shift has worked out well for investors—the stock has doubled since the company announced the plan in… Read More
Learn everything you need to know in 'The Canadian Guide on How to Invest in Stocks Successfully' FREE Special Report from The Successful Investor.
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The Successful Investor Inc. and its affiliate Successful Investor Wealth Management (referred to hereafter as TSI Network) know that you care how information about you is used and shared, and we appreciate your trust that we will do so carefully and sensibly. This notice describes our privacy policy. By visiting websites owned by or associated with TSI Network, you are accepting the practices described in this Privacy Policy.
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We do not collect or disclose personal information, except when it is provided to us voluntarily by the site/store visitor with their consent.
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We are continuously in the process of improving our sites and services. If any new features or policies require a change to this current policy, we will post a clear notice of this change on pages of our site where the privacy policy appears. The principle behind this privacy policy is to collect information with your knowledge and consent.
What personal information do we collect?
The information we receive from customers helps us personalize and continually improve your online experience at TSI Network. TSI Network may collect personal information online for all legal purposes, which include, but are not limited to:
Information You Give Us: We receive and store any information you enter on our website or give us in any other way through sign-up forms or ordering forms for publications and services. You can choose not to provide certain information, but then you might not be able to take advantage of many of our services and features. We use the information that you provide for such purposes as responding to your requests, customizing your web browsing experience for you, improving our website, and communicating with you.
Automatic Information: We receive and store certain types of information whenever you interact with us. For example, like many websites, we use "cookies," and we obtain certain types of information when your web browser accesses TSI Network.
Information from Other Sources: For reasons such as improving personalization of our service (for example, providing better product recommendations or special offers that we think will interest you), we might receive information about you from other sources and add it to our account information. We also sometimes receive updated delivery and address information from our shippers or other sources so that we can correct our records and deliver your next purchase or communication more easily.
We do reserve the right, however, to collect and perform statistical analyses of the internet traffic to our website for our internal use. However, information collected does not allow us to identify any individual, and will not collect any personal information of the visitor. Furthermore, we do not sell, rent or loan to any outside parties the information collected and analyzed.
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To make the visitor’s experience on our website easier, we may use per-session “cookies” (session identifiers) to track the state of the visitor session. This “cookie” is destroyed when your session with our website is over.
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Does TSI Network Use the Information It Receives?
"Contact Us" and Comment Features: TSI Network encourages visitors to its websites to contact us with questions and comments. Email addresses and other information of persons using these features may be collected in order to facilitate our responses to those inquiries.
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Except as provided herein, TSI Network will not sell or rent personal information about you to unaffiliated third parties.
We may disclose personal information you have provided through our websites, for the above purposes, to persons or companies that we retain to carry out and other activities for which you have registered or in which you have otherwise asked to participate. In particular, we may for these purposes transfer information to any country (including the USA and other countries which may not offer the same level of data protection as Canada). We also will disclose personal information if required by law, including compliance with warrants, subpoenas or other legal processes.
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TSI Network does everything possible to prevent unauthorized intrusion to its websites and the alteration, acquisition or misuse of personal information by unauthorized persons. Notably passwords submitted by users of our websites are encrypted using encryption mechanisms. However, TSI Network cautions visitors to its websites that no network, including the Internet, is entirely secure. Accordingly, we cannot be responsible for loss, corruption or unauthorized acquisition of personal information provided to our websites, or for any damages resulting from such loss, corruption or unauthorized acquisition.
How do we maintain the integrity of your personal information?
TSI Network has procedures in place to keep your personal information accurate, complete and current for the purposes for which it is collected and used. You may review the information that you have provided to us and where appropriate you may request that it be corrected. If you wish to review your personal information please send a request to: service@tsinetwork.ca.
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If you wish to request access to, or correction of, your personal information in our custody or control, or find out how we've used or disclosed that information, please make your request in writing to us. We may need to verify your identity before searching for or providing you with personal information. In some circumstances, we may not be able to provide access to your personal information, for example if it contains the personal information of other persons, if it constitutes confidential commercial information, or if it is protected by solicitor-client privilege. If we deny your request for access to, or refuse a request to correct, your personal information, we will advise you of the reasons for this refusal.
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What Choices Do I Have?
Changes to this Policy
This Policy is the sole authorized statement of TSI Network's practices with respect to the collection of personal information through TSI Network's websites and the subsequent use and disclosure of such information. Any summaries of this Policy generated by third party software or otherwise (for example, in connection with the "Platform for Privacy Preferences" or "P3P") shall have no legal effect, are in no way binding upon TSI Network, shall not be relied upon in substitute for this Policy, and neither supersede nor modify this Policy.
TSI Network may revise this Policy from time to time.
Legal Notices and Disclaimers
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