EBIT

EBIT is operating profit — earnings before interest and taxes are subtracted, but after depreciation and amortization are included.

The difference from EBITDA is exactly depreciation and amortization: EBIT includes them as real costs, EBITDA adds them back. For a business with heavy physical assets or amortizing intangibles, EBIT can look meaningfully worse than EBITDA — which is one reason critics of EBITDA argue it can flatter capital-intensive businesses that are quietly wearing out expensive equipment.