• Corpay average operating margin for 2023 was 43.12%, a 1.36% increase from 2022.
• Corpay average operating margin for 2022 was 42.54%, a 4.85% increase from 2021.
• Corpay average operating margin for 2021 was 44.71%, a 8.1% 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.