• Brown-Forman average ebitda margin for 2023 was 28.17%, a 13.35% increase from 2022.
• Brown-Forman average ebitda margin for 2022 was 32.51%, a 4.8% decline from 2021.
• Brown-Forman average ebitda margin for 2021 was 34.15%, a 7.4% decline from 2020.

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