• Bilibili average operating margin for 2023 was -28.75%, a 23.21% decline from 2022.
• Bilibili average operating margin for 2022 was -37.44%, a 25.13% decline from 2021.
• Bilibili average operating margin for 2021 was -29.92%, a 22.82% increase 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.