• Deere average operating margin for 2023 was 20.17%, a 21.95% decline from 2022.
• Deere average operating margin for 2022 was 16.54%, a 5.48% increase from 2021.
• Deere average operating margin for 2021 was 15.68%, a 54.64% 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.