• Banco Santander, S.A average operating margin for 2023 was 27.23%, a 23.68% decline from 2022.
• Banco Santander, S.A average operating margin for 2022 was 35.68%, a 104.24% decline from 2021.
• Banco Santander, S.A average operating margin for 2021 was 17.47%, a 29.24% 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.