• Philip Morris average ebitda margin for 2023 was 39.57%, a 7.96% decline from 2022.
• Philip Morris average ebitda margin for 2022 was 42.99%, a 5.04% decline from 2021.
• Philip Morris average ebitda margin for 2021 was 45.27%, a 8.3% decline from 2020.

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