• Medtronic average operating margin for 2023 was 17.75%, a 4.62% decline from 2022.
• Medtronic average operating margin for 2022 was 18.61%, a 28.79% decline from 2021.
• Medtronic average operating margin for 2021 was 14.45%, a 10.08% increase 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.