• Hormel Foods average operating margin for 2023 was 9.73%, a 3.85% decline from 2022.
• Hormel Foods average operating margin for 2022 was 10.12%, a 3.89% decline from 2021.
• Hormel Foods average operating margin for 2021 was 10.53%, a 11.44% 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.