• Caterpillar average ebitda margin for 2023 was 22.5%, a 20.45% increase from 2022.
• Caterpillar average ebitda margin for 2022 was 18.68%, a 2.15% increase from 2021.
• Caterpillar average ebitda margin for 2021 was 19.09%, a 1.85% decline from 2020.

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