• Baker Hughes average operating margin for 2023 was 8.18%, a 37.94% increase from 2022.
• Baker Hughes average operating margin for 2022 was 5.93%, a 63.81% increase from 2021.
• Baker Hughes average operating margin for 2021 was 3.62%, a 105.1% 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.