Earning ReportingWhy does Saturn report their earnings in EBITDA instead of Cash Flow or FFO like all of the other oil companies?
For example they quote a 0.7x debt to EBITDA, whereas all the other E+P's always quote Debt/Cash flow metrics.
As far as I understand EBITDA ignores interest and taxes, so essentially is leaving out cash expenses from the equation. Essentially making their debt ratio's look better. Am is thinking of this wrong?