• Labcorp average operating margin for 2023 was 7.76%, a 56.72% decline from 2022.
• Labcorp average operating margin for 2022 was 17.93%, a 24.88% decline from 2021.
• Labcorp average operating margin for 2021 was 23.87%, a 120.41% 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.