• S&P Global average operating margin for 2023 was 32.16%, a 38.15% increase from 2022.
• S&P Global average operating margin for 2022 was 52%, a 4.84% decline from 2021.
• S&P Global average operating margin for 2021 was 49.6%, a 1.78% 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.