• Merck average ebitda margin for 2023 was 20.97%, a 44.7% increase from 2022.
• Merck average ebitda margin for 2022 was 37.92%, a 66.46% decline from 2021.
• Merck average ebitda margin for 2021 was 22.78%, a 15.63% increase from 2020.

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