Non-operating activities include interest expenses, tax rates, and large non-cash items such as depreciation and amortization. By removing the non-operating effects, EBITDA gives investors the ability to focus on the profitability of their operations.
Thomas Edison once speculated: Genius is one percent inspiration and ninety-nine percent perspiration.
In this case, we can name the coiner of the expression-the American inventor Thomas Alva Edison. Edison is first reported as saying Genius is one per cent inspiration, ninety-nine per cent perspiration sometime around 1902, in the September 1932 edition of Harper's Monthly Magazine.