• Hershey average ebitda margin for 2023 was 26.33%, a 1.15% decline from 2022.
• Hershey average ebitda margin for 2022 was 26.03%, a 1.77% increase from 2021.
• Hershey average ebitda margin for 2021 was 26.5%, a 11.16% decline from 2020.

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