A company's earnings before interest, taxes, depreciation, and amortization (commonly abbreviated EBITDA, pronounced , , or ) is an accounting measure calculated using a company's net earnings, before interest expenses, taxes, depreciation and amortization are subtracted, as a proxy for a company's current operating profitability (i.e. how much profit it makes with its present assets and its operations on the products it produces and sells, as well as providing a proxy for cash flow).