• CorVel average operating margin for 2023 was 12.25%, a 3.09% decline from 2022.
• CorVel average operating margin for 2022 was 12.64%, a 6.4% decline from 2021.
• CorVel average operating margin for 2021 was 11.88%, a 21.97% 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.