• Alcoa average operating margin for 2023 was -4.48%, a 154.11% decline from 2022.
• Alcoa average operating margin for 2022 was 8.28%, a 6.33% decline from 2021.
• Alcoa average operating margin for 2021 was 8.84%, a 88500% 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.