Opinion

Adjusted EBITDA and the masking of leverage

In leveraged loans, EBITDA add-backs now reduce reported leverage at issuance by roughly 1.2 turns of leverage. In direct lending, the impact is even larger — about 1.9 turns. In both cases the gap is ...
Seeking Alpha

Debt Metrics: How To Interpret Them And When They Matter

The article discusses leverage ratios such as debt to assets, debt to equity, debt to EBITDA, and debt to free cash flow, as well as the interest coverage ratio. Using company examples, I explain ...
Investopedia

Coverage Ratio Definition, Types, Formulas, Examples

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...
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Borr Drilling anticipates 2025 adjusted EBITDA of $455M–$470M as fleet coverage reaches 85% and contract wins diversify footprint

CEO Bruno Morand opened the call highlighting strong third quarter results, with 23 of 24 rigs active and "revenue increased by $9.4 million quarter-over-quarter and adjusted EBITDA rose 2% to $135.6 ...
Nasdaq

Hallador Energy Company Reports Record Net Income and Adjusted EBITDA for First Half of 2023; Leverage Ratio moves below 1.0X

* Defined as operating cash flows plus current income tax expense, less effects of certain subsidiary and equity method investment activity, plus bank interest, less effects of working capital and ...