• Fannie Mae average operating margin for 2023 was 13.34%, a 32.73% increase from 2022.
• Fannie Mae average operating margin for 2022 was 19.83%, a 21.71% decline from 2021.
• Fannie Mae average operating margin for 2021 was 25.33%, a 96.51% 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.