OPEN-SOURCE SCRIPT
更新済 (EV/EBITDA) / Growth
Building blocks
Component What it means
EV (Enterprise Value) Market Cap + Debt + Minority Interest − Cash — the true cost to buy the whole company
EBITDA Earnings Before Interest, Tax, Depreciation & Amortisation — a proxy for operating cash flow
EV/EBITDA How many years of operating earnings you're paying — a valuation multiple
Growth YoY % change in EBITDA (or Revenue) — how fast the company is expanding
The problem it solves
EV/EBITDA alone is incomplete.
A company at EV/EBITDA = 20x growing at 40%/yr → cheap
A company at EV/EBITDA = 10x growing at 2%/yr → expensive
EVEG captures this by dividing the multiple by the growth rate.
How to read it
EVEG Interpretation
< 1 🟢 Undervalued relative to growth
= 1 🟡 Fairly valued
> 2 🔴 Expensive relative to growth
Negative ⚠️ Negative growth — ratio loses meaning
Simple example
EV/EBITDA = 15x
EBITDA Growth = 30%
EVEG = 15 ÷ 30 = 0.5 → 🟢 Cheap for its growth rate
These are three different ways to calculate (EV/EBITDA) ÷ Growth, each using a different time period for the EBITDA denominator:
EVEG @ FY — Fiscal Year
Uses annual EBITDA (last full fiscal year)
Most stable, least noisy
Best for long-term valuation comparison
Growth = YoY change in annual EBITDA
EVEG @ TTM — Trailing Twelve Months
Uses last 12 months of EBITDA (rolling)
Most current/real-time view
Reacts faster to recent earnings changes
Growth = YoY change in TTM EBITDA
EVEG @ FQ — Fiscal Quarter
Uses a blended formula: ebitda_fq + (ebitda_ttm × 3/4)
This was Lorenzo's original formula — it mixes the latest quarter with TTM to smooth out single-quarter spikes
Most granular but also most volatile
Growth still uses FY growth rate as the divisor
Which to trust?
Signal Best Use
FY Long-term investors, annual screening
TTM Most balanced — current but smoothed
FQ Short-term traders, catching turning points early
When all three are aligned and low (< 1), that's the strongest signal of undervaluation relative to growth.
Component What it means
EV (Enterprise Value) Market Cap + Debt + Minority Interest − Cash — the true cost to buy the whole company
EBITDA Earnings Before Interest, Tax, Depreciation & Amortisation — a proxy for operating cash flow
EV/EBITDA How many years of operating earnings you're paying — a valuation multiple
Growth YoY % change in EBITDA (or Revenue) — how fast the company is expanding
The problem it solves
EV/EBITDA alone is incomplete.
A company at EV/EBITDA = 20x growing at 40%/yr → cheap
A company at EV/EBITDA = 10x growing at 2%/yr → expensive
EVEG captures this by dividing the multiple by the growth rate.
How to read it
EVEG Interpretation
< 1 🟢 Undervalued relative to growth
= 1 🟡 Fairly valued
> 2 🔴 Expensive relative to growth
Negative ⚠️ Negative growth — ratio loses meaning
Simple example
EV/EBITDA = 15x
EBITDA Growth = 30%
EVEG = 15 ÷ 30 = 0.5 → 🟢 Cheap for its growth rate
These are three different ways to calculate (EV/EBITDA) ÷ Growth, each using a different time period for the EBITDA denominator:
EVEG @ FY — Fiscal Year
Uses annual EBITDA (last full fiscal year)
Most stable, least noisy
Best for long-term valuation comparison
Growth = YoY change in annual EBITDA
EVEG @ TTM — Trailing Twelve Months
Uses last 12 months of EBITDA (rolling)
Most current/real-time view
Reacts faster to recent earnings changes
Growth = YoY change in TTM EBITDA
EVEG @ FQ — Fiscal Quarter
Uses a blended formula: ebitda_fq + (ebitda_ttm × 3/4)
This was Lorenzo's original formula — it mixes the latest quarter with TTM to smooth out single-quarter spikes
Most granular but also most volatile
Growth still uses FY growth rate as the divisor
Which to trust?
Signal Best Use
FY Long-term investors, annual screening
TTM Most balanced — current but smoothed
FQ Short-term traders, catching turning points early
When all three are aligned and low (< 1), that's the strongest signal of undervaluation relative to growth.
リリースノート
Added last 1,2,3,4,5 Quarter growth. リリースノート
(EV/EBIDTA) / GROWTHFOR FQ
リリースノート
(EV/EBITDA) / Growthオープンソーススクリプト
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オープンソーススクリプト
TradingViewの精神に則り、このスクリプトの作者はコードをオープンソースとして公開してくれました。トレーダーが内容を確認・検証できるようにという配慮です。作者に拍手を送りましょう！無料で利用できますが、コードの再公開はハウスルールに従う必要があります。
免責事項
これらの情報および投稿は、TradingViewが提供または承認する金融、投資、取引、またはその他の種類の助言もしくは推奨であることを意図したものではなく、またこれらに該当するものでもありません。詳細は利用規約をご覧ください。