• Carnival average ebitda margin for 2023 was 9.37%, a 114.78% increase from 2022.
• Carnival average ebitda margin for 2022 was -63.39%, a 95.06% decline from 2021.
• Carnival average ebitda margin for 2021 was -1282.79%, a 3595.74% decline from 2020.

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