• Hershey average operating margin for 2023 was 22.69%, a 0.98% increase from 2022.
• Hershey average operating margin for 2022 was 22.47%, a 2.13% increase from 2021.
• Hershey average operating margin for 2021 was 22.96%, a 13.61% 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.