• Brown & Brown average operating margin for 2023 was 24.67%, a 0.33% increase from 2022.
• Brown & Brown average operating margin for 2022 was 24.59%, a 1.21% increase from 2021.
• Brown & Brown average operating margin for 2021 was 24.89%, a 5.51% 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.