• APA average operating margin for 2023 was 37.55%, a 12.49% decline from 2022.
• APA average operating margin for 2022 was 42.91%, a 146.18% decline from 2021.
• APA average operating margin for 2021 was 17.43%, a 112.48% increase 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.