• Terumo average operating margin for 2023 was 16.14%, a 7.88% decline from 2022.
• Terumo average operating margin for 2022 was 17.52%, a 3.95% decline from 2021.
• Terumo average operating margin for 2021 was 18.24%, a 7.23% 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.