• Realty Income average operating margin for 2023 was 22.54%, a 14.71% decline from 2022.
• Realty Income average operating margin for 2022 was 19.65%, a 3.2% increase from 2021.
• Realty Income average operating margin for 2021 was 19.04%, a 19.97% 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.