Total Debt / EBITDA ratio measures leverage in terms of total debt while using EBITDA as a proxy for cash flow.
Short Term Borrowings
(+) Current Portion of Long Term Debt
(+) Current Portion of Lease Liabilities
(+) Long Term Debt
(+) Long Term Lease Liabilities
(=) Total Debt
EBITDA is Earnings before Interest, Taxes, Depreciation & Amortization
Click the link below to download a spreadsheet with an example Similar Companies calculation for El Arabia for Land Reclamation below: