• Welltower average ebitda margin for 2023 was 35.96%, a 1.02% increase from 2022.
• Welltower average ebitda margin for 2022 was 36.33%, a 1.44% decline from 2021.
• Welltower average ebitda margin for 2021 was 36.86%, a 10.62% decline from 2020.

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