• Merck average operating margin for 2023 was 18.33%, a 12.38% decline from 2022.
• Merck average operating margin for 2022 was 20.92%, a 4.24% decline from 2021.
• Merck average operating margin for 2021 was 20.07%, a 28.9% 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.