EBITDA per Share

Category

Ratios

Units

Currency per share

Formula

EBITDA / Shares Outstanding

Reference

Regulation G and Regulation S-K Item 10(e) (non-GAAP financial measures)

Source

Calculated by GeminIQ from figures reported in SEC filings

EBITDA per share is earnings before interest, taxes, depreciation, and amortization divided by the number of common shares outstanding. It shows how much operating profit, before non-cash depreciation and amortization charges and before financing and tax costs, the business generates for each share.

EBITDA is not a GAAP line item, so EBITDA per share is an analyst-derived figure rather than one companies report on the face of their financial statements.

The ratio is calculated from figures reported in SEC filings. EBITDA is usually built as EBIT, or operating income, plus depreciation and amortization, which companies report on the cash flow statement and often tag DepreciationDepletionAndAmortization in XBRL. GeminIQ takes EBITDA from the filing when a company presents it and otherwise calculates it as EBIT plus D&A. The share count may be weighted-average or period-end; conventions differ between sources.

EBITDA is a non-GAAP measure. Companies that present it must follow Regulation G and Regulation S-K Item 10(e), including a reconciliation to net income. SEC staff guidance restricts presenting non-GAAP measures on a per-share basis when they can function as liquidity measures, and EBITDA is commonly used as one, so companies generally do not show EBITDA per share in their filings. Company-defined "adjusted EBITDA" often excludes further items, such as stock-based compensation and restructuring charges, which makes per-share figures from different sources hard to compare.

Because EBITDA is calculated before interest, it belongs to all capital providers, not just shareholders. Dividing it by shares therefore mixes a whole-firm numerator with an equity denominator, which can flatter heavily indebted companies. For valuation, most analysts prefer enterprise value to EBITDA, which puts debt and equity on the same side of the ratio.