• AAON average operating margin for 2023 was 17.77%, a 49.33% increase from 2022.
• AAON average operating margin for 2022 was 11.9%, a 29.08% increase from 2021.
• AAON average operating margin for 2021 was 16.78%, a 8.36% 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.