• Royalty Pharma average ebitda margin for 2023 was 31.64%, a 26.04% increase from 2022.
• Royalty Pharma average ebitda margin for 2022 was 42.78%, a 40.26% decline from 2021.
• Royalty Pharma average ebitda margin for 2021 was 71.61%, a 15.38% decline from 2020.

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