• Anheuser-Busch average operating margin for 2023 was 24.34%, a 2.95% decline from 2022.
• Anheuser-Busch average operating margin for 2022 was 25.08%, a 9.71% decline from 2021.
• Anheuser-Busch average operating margin for 2021 was 22.86%, a 13.11% 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.