A
AcadiFi
Equity ValuationMedium

Ashwood Retail has a market cap of $3,200M, debt of $1,800M, cash of $200M, and EBITDA of $480M. Birchfield Stores has a market cap of $3,040M, debt of $400M, cash of $150M, and EBITDA of $380M. Which company appears more expensive on an EV/EBITDA basis?