• Moderna average ebitda margin for 2023 was -8.92%, a 113.84% increase from 2022.
• Moderna average ebitda margin for 2022 was 64.47%, a 16.79% decline from 2021.
• Moderna average ebitda margin for 2021 was 55.2%, a 112.55% increase from 2020.

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