• Piper Sandler average operating margin for 2024 was 14.68%, a 41.29% decline from 2023.
• Piper Sandler average operating margin for 2023 was 10.39%, a 41.27% increase from 2022.
• Piper Sandler average operating margin for 2022 was 17.69%, a 13.5% decline from 2021.

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.