• Baxter average operating margin for 2023 was -13.8%, a 83.75% decline from 2022.
• Baxter average operating margin for 2022 was -7.51%, a 157.33% increase from 2021.
• Baxter average operating margin for 2021 was 13.1%, a 12.9% 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.