A Deep Dive Into Earnings Quality with Columbia Professor Doron Nissim
Excess Returns
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EV to EBITDA - Is PE a Good Indication of Value?
PE includes everything that you have in the income statement, including transitory items like restructure or volatile at least. For earnings to be a good indication of value, they have to be sustainable. depreciation and amountization is a very problematic expense for companies. EV to EBITDA has many other issues that you have to take into account.
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