TY - JOUR T1 - Assessing Profitability JF - The Journal of Private Equity SP - 13 LP - 15 DO - 10.3905/jpe.2003.320045 VL - 6 IS - 3 AU - John C. Calabrese AU - Brigid A. Rafferty Y1 - 2003/05/31 UR - https://pm-research.com/content/6/3/13.abstract N2 - There are definite recognized advantages to having widespread acceptance of a single measure with which to benchmark the performance of a business. Recently, EBITDA has received a lot of attention and focus for this purpose. John Calabrese and Brigid Rafferty, Principals with TRG, examine how a cash crisis can result due to misunderstandings surrounding the measurement of EBITDA. There is no substitution for a thorough analysis and understanding of the transactions recorded in a company's financial statements and projections. ER -