• Ambev S.A average ebitda margin for 2023 was 30.43%, a 0.73% increase from 2022.
• Ambev S.A average ebitda margin for 2022 was 30.21%, a 13.78% increase from 2021.
• Ambev S.A average ebitda margin for 2021 was 35.04%, a 3.87% decline from 2020.

Ebitda margin can be defined as earnings before interest, taxes, depreciation and amortization as a portion of total revenue.