• Merck average ebitda margin for 2023 was 27.58%, a 7.26% decline from 2022.
• Merck average ebitda margin for 2022 was 29.74%, a 0.2% decline from 2021.
• Merck average ebitda margin for 2021 was 29.68%, a 9.44% increase from 2020.

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