• Baxter average operating margin for 2023 was -5.45%, a 79.29% decline from 2022.
• Baxter average operating margin for 2022 was -26.31%, a 304.43% decline from 2021.
• Baxter average operating margin for 2021 was 12.87%, a 12.45% 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.