• Philip Morris average operating margin for 2023 was 34.21%, a 13.39% increase from 2022.
• Philip Morris average operating margin for 2022 was 39.5%, a 5.95% decline from 2021.
• Philip Morris average operating margin for 2021 was 42%, a 9.12% 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.