• Ares Management average operating margin for 2023 was 18.61%, a 41.09% increase from 2022.
• Ares Management average operating margin for 2022 was 13.19%, a 35.41% increase from 2021.
• Ares Management average operating margin for 2021 was 20.42%, a 49.27% 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.