• Cummins average ebitda margin for 2023 was 12.56%, a 3.98% decline from 2022.
• Cummins average ebitda margin for 2022 was 13.08%, a 11.02% decline from 2021.
• Cummins average ebitda margin for 2021 was 14.7%, a 4.63% decline from 2020.

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