Am I right in thinking that the expenses deducted from retained earnings are more comprehensive than those added back to EBITDA? Retained earnings would, I guess, cover additional expenses like employee compensation, whereas EBITDA would only cover taxes, interest on loan payments, depreciation and amortisation.

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Am I right in thinking that the expenses deducted from retained earnings are more comprehensive than those added back to EBITDA? Retained
earnings would, I guess, cover additional expenses like employee compensation, whereas EBITDA would only cover taxes, interest on loan payments, depreciation and amortisation.

That sounds mostly right, but I don't think that interest on loan payments is EBITDA.

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Arun,

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