• Balchem average operating margin for 2023 was 16.01%, a 0.25% increase from 2022.
• Balchem average operating margin for 2022 was 15.97%, a 1.24% increase from 2021.
• Balchem average operating margin for 2021 was 16.17%, a 4.52% 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.