> EV, for example, is susceptible to distortion between leasing and buying capital assets.
Yes, this is an excellent point. The next-level thing to do when modeling companies that make extensive use of operating leases for capital assets is to capitalize those operating leases, for exactly this reason.
Yes, this is an excellent point. The next-level thing to do when modeling companies that make extensive use of operating leases for capital assets is to capitalize those operating leases, for exactly this reason.