• Ryder System average ebitda margin for 2023 was 22.63%, a 4.88% decline from 2022.
• Ryder System average ebitda margin for 2022 was 23.79%, a 9.65% decline from 2021.
• Ryder System average ebitda margin for 2021 was 26.33%, a 3.83% decline from 2020.

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