EBITDA

[NajdorfDefense]

Pls evaluate for me the investing prospects for: Comcast, Sprint, MCI, TCI, in the mid-late 1970s without using EBITDA or similar metrics. Or Mirage Resorts/Wynn years before their casinos actually opened and they had years of buildout and CapEx expenses.

When a company has no earnings and only real assets are some 'newly minted technology', or vacant unfinished building, what do you use?

http://finance.google.com/finance?client=ob&q=WYNN
OpIncome negative 2001-05 inclusive.