• Goldman Sachs average operating margin for 2023 was 24.2%, a 33.22% increase from 2022.
• Goldman Sachs average operating margin for 2022 was 36.24%, a 16.73% decline from 2021.
• Goldman Sachs average operating margin for 2021 was 43.52%, a 86.78% 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.