• Novo Nordisk average operating margin for 2023 was 43.28%, a 2.46% decline from 2022.
• Novo Nordisk average operating margin for 2022 was 42.24%, a 1.25% increase from 2021.
• Novo Nordisk average operating margin for 2021 was 41.72%, a 3.02% 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.