• Novo Nordisk average operating margin for 2023 was 43.52%, a 2.69% increase from 2022.
• Novo Nordisk average operating margin for 2022 was 42.38%, a 1.44% increase from 2021.
• Novo Nordisk average operating margin for 2021 was 41.78%, a 2.75% 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.