Earnings worksheet

How this worksheet works

Normalized EBITDA = reported EBITDA + supported additions − additional replacement labor − rent adjustment.

Use the result in context

This worksheet starts with EBITDA, not net income. It does not verify an add-back or account for debt service, all capital spending, working capital or taxes. Negative results are allowed and should prompt a review of the business and the assumptions.

Changing an input clears the previous result so you do not mistake an old calculation for the current scenario. Load the illustrative example to explore the method, then replace it with your own figures. Download before leaving if you want to keep your worksheet.