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Investopedia Says:
EBITDAX is used when reporting earnings for oil and mineral exploration companies. It excludes costly exploration expenses and gives the true EBITDA of the firm.
Earnings Before Interest, Taxes, Depreciation, Depletion, Amortization and Exploration Expenses - EBITDAX
An indicator of a company's financial performance calculated as: ...
 See also: Indicator, Amortization, Expenses, Revenue, Profit
  
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