• Madison Square Garden average ebitda margin for 2023 was 11.38%, a 15.18% increase from 2022.
• Madison Square Garden average ebitda margin for 2022 was 9.88%, a 152.83% increase from 2021.
• Madison Square Garden average ebitda margin for 2021 was -18.7%, a 41.29% decline from 2020.

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