How Lease Rules Distort Global EBITDA

Two companies can operate almost exactly the same business—and yet report very different EBITDA.

Why?

Sometimes the difference isn't the business.

It's the accounting rules.

In this episode of Trail Boss Radio, we take a simple idea—renting a lemonade-stand lemon squeezer—and use it to explain one of the most important differences investors can encounter when comparing companies around the world: U.S. GAAP versus IFRS lease accounting.

Under IFRS 16, leases are generally treated through depreciation and interest. Under U.S. G...

E481 - How Lease Rules Distort Global EBITDA