• FedEx average operating margin for 2023 was 5.78%, a 9.97% increase from 2022.
• FedEx average operating margin for 2022 was 6.42%, a 0.31% decline from 2021.
• FedEx average operating margin for 2021 was 6.44%, a 45.7% 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.