• Procter & Gamble average operating margin for 2023 was 22.19%, a 0.68% decline from 2022.
• Procter & Gamble average operating margin for 2022 was 22.04%, a 5.12% increase from 2021.
• Procter & Gamble average operating margin for 2021 was 23.23%, a 17.68% decline 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.