Net operating income is similar to earnings before interest, taxes, depreciation and amortization (EBITDA). Both calculations do not consider interest, taxes, depreciation, or amortization. However, there are some significant differences., NOI is typically used when evaluating commercial or residential real estate. In contrast, EBITDA is used in the context of measuring company profitability. Therefore, NOI must take into account lost revenue from property vacancy. EBITDA does not consider this factor.