medium · Private Equity value-creation
A PE analyst is performing a Quality of Earnings (QoE) analysis on TargetCo. The reported EBITDA is $50M. The analyst identifies $4M in non-recurring restructuring costs, $2M in personal travel expenses for the founder, and $3M in revenue that was recognized early in violation of GAAP.
What is the Adjusted EBITDA?
- $49M
- $59M
- $53M
- $56M
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