Its Over, page-1190

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    There is no necessary direct link or rule of thumb association between EBITDA and NPAT - a company that has achieved EBITDA positive may not necessarily have a profit if it has a high level of debt or capital intensive or both - being EBITDA positive is generally closer to assume positive operating cashflow than is to profit, but for ********* tech companies that do not capitalise their R&D expenses (hence no amortisation) and do not have loans (most of the microcaps don't ) being EBITDA positive is rather close to being positive NPAT even 1:1. You could check the company annual report to determine the ratio applicable to the company s circumstance
 
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