• Allegion average operating margin for 2023 was 19.05%, a 7.69% increase from 2022.
• Allegion average operating margin for 2022 was 17.69%, a 4.99% increase from 2021.
• Allegion average operating margin for 2021 was 18.62%, a 17.18% 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.