• Norfolk Southern average ebitda margin for 2023 was 38.45%, a 20.98% increase from 2022.
• Norfolk Southern average ebitda margin for 2022 was 48.66%, a 1.22% decline from 2021.
• Norfolk Southern average ebitda margin for 2021 was 49.26%, a 16.76% decline from 2020.

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