The problem with EBITDA is not that it is calculated, but that investors misuse it: EBITDA is purely an operating performance metric, but many treat it as if it were cash flow or comparable to debt, which EBITDA is not; additionally, management has discretion over which items to exclude from adjusted EBITDA, making it infinitely malleable.
factualpending
Speaker
Anthony ChilupatiEvidence Quote
“EBITDA is the mother of all disastrous measures... it's something that is cash flow... And it is not. It is purely a operating performance metric... What do I do with stock options? What do I do with joint venture gains?... What do I do with the charges that I took on that acquisition?”
Source
No. 1 Forensic Accountant: The Coming AI Collapse | Anthony Scilipoti— The Knowledge Project PodcastCreated: 8/11/2026, 12:09:33 AM
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