• Macerich average ebitda margin for 2023 was 54.9%, a 0.15% decline from 2022.
• Macerich average ebitda margin for 2022 was 54.98%, a 2.19% decline from 2021.
• Macerich average ebitda margin for 2021 was 53.8%, a 6.43% increase from 2020.

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