• Badger Meter average ebitda margin for 2023 was 20.4%, a 1.45% increase from 2022.
• Badger Meter average ebitda margin for 2022 was 20.7%, a 2.22% decline from 2021.
• Badger Meter average ebitda margin for 2021 was 21.17%, a 2.22% decline from 2020.

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