• Commerce Bancshares average operating margin for 2023 was 34.98%, a 18.14% decline from 2022.
• Commerce Bancshares average operating margin for 2022 was 42.73%, a 6.72% decline from 2021.
• Commerce Bancshares average operating margin for 2021 was 45.81%, a 51.14% 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.