• American Express average operating margin for 2023 was 15.23%, a 22.81% increase from 2022.
• American Express average operating margin for 2022 was 19.73%, a 13.92% decline from 2021.
• American Express average operating margin for 2021 was 22.92%, a 86.19% decline from 2020.

Operating margin can be defined as operating margin measurement of what proportion of a company's revenue is left over after paying for variable costs of production such as wages, raw materials, etc.