I struggle to pick out the right numbers from financial reports of publicly traded companies to calculate EBITDA. I randomly picked the stock LAUR and found this document:


This webpage here says that a formula I can use for EBITDA is

EBITDA = Net Income + Interest + Taxes + Depreciation + Amortization

From what I can tell, here are the numbers I can pick out from the financial report:

Net Income = 877,609 -> on page 4
Interest = -9,552 - 136,438 -> page 4
Tax = -60,677 -> page 4
Depreciation/Amort = -1,029,619 -> page 7  (although I also see 146,284 on page 9, which is a big discrepancy?) 

So adding up all these values gives us an EBITDA of -$358,677 for the first 9 months of their fiscal year. Is that correct? I feel like I did something completely wrong because I have so much trouble picking out the right numbers from financial statements.

1 Answer 1


So EBITDA is a measure of how a company is performing without taking into account any of their interest, tax, depreciation, or amortization expense. In the case of interest, you took into account both interest expense and interest income. Additionally, for the formula you referenced, you should be adding these expenses back to net income, not subtracting. In your case, you're effectively accounting for ITDA twice.

Lastly, as far as amortization/depreciation: the 1,029,619 number is their total accumulated amortization & depreciation. You're trying to find the EBITDA for just this year, so only just this year's amortization & depreciation expense numbers.

EBITDA = 877,609 NI + 136,438 interest + 60,677 tax + 146,282 depre/amort

EBITDA = 1,221,006

Hope this helps!

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