• Welltower average operating margin for 2023 was 13.67%, a 2.64% increase from 2022.
• Welltower average operating margin for 2022 was 14.04%, a 1.34% decline from 2021.
• Welltower average operating margin for 2021 was 14.23%, a 25.85% 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.