• Equinor average ebitda margin for 2023 was 49.58%, a 10.38% decline from 2022.
• Equinor average ebitda margin for 2022 was 55.32%, a 38.82% decline from 2021.
• Equinor average ebitda margin for 2021 was 39.85%, a 34.27% increase from 2020.

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