• Dow average ebitda margin for 2023 was 10.32%, a 40.14% increase from 2022.
• Dow average ebitda margin for 2022 was 17.24%, a 4.36% decline from 2021.
• Dow average ebitda margin for 2021 was 16.52%, a 145.47% increase from 2020.

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