• NetEase average operating margin for 2023 was 24.01%, a 18.92% increase from 2022.
• NetEase average operating margin for 2022 was 20.19%, a 10.27% increase from 2021.
• NetEase average operating margin for 2021 was 18.31%, a 24.8% 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.