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.
At TSI Network, we recommend using our three-part Successful Investor philosophy:
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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
EMERA INC., $50.43, Toronto symbol EMA, is a buy.
The company owns 100% of Nova Scotia Power, that province’s main electricity supplier. It also owns 100% of Teco Energy, which supplies electricity and natural gas to 1.3 million customers in Tampa Bay, Florida. Another of Teco’s businesses… Read More
INTEL CORP., $29.85, Nasdaq symbol INTC, remains a buy for long-term gains.
The company is the world’s leading maker of computer chips: its products power 65% of all personal computers and 80% of all datacentres.
The stock dropped 4% this week after the U.S. government revoked the… Read More
Loblaw has come under fire in the past few months from politicians and consumer advocates complaining that it earned “excessive profits” during and after the COVID-19 pandemic. Despite the threats of new taxes and rules on how food sellers operate, the stock has gained an… Read More
TC ENERGY INC., $54.49, Toronto symbol TRP, remains a buy.
TC generates steady cash flow for investors mainly through a 93,700-kilometre pipeline network that pumps natural gas from Alberta to eastern Canada and the U.S. Its other operations include 4,900 kilometres of crude oil pipelines and… Read More
TC ENERGY INC., $54.28, Toronto symbol TRP, remains a buy.
TC generates steady cash flow for investors mainly through a 93,700-kilometre pipeline network that pumps natural gas from Alberta to eastern Canada and the U.S. Its other operations include 4,900 kilometres of crude oil pipelines and… Read More
When we made Alimentation Couche-Tard our Stock of the Year for Stock Pickers Digest (now Power Growth Investor) in 2012, it rose more than 60% that year.
Yet it wasn’t an isolated surge –- since we first recommended it in 2008, the shares are up… 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.
How to Invest In Stocks Guide: Find 10 factors that make your investments safer and stronger.
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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.
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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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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.
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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.
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