• Shiseido average ebitda margin for 2023 was 7.03%, a 12.67% increase from 2022.
• Shiseido average ebitda margin for 2022 was 8.05%, a 21.23% decline from 2021.
• Shiseido average ebitda margin for 2021 was 10.22%, a 12.72% decline from 2020.

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