• Carrier Global average operating margin for 2023 was 12.33%, a 39.71% increase from 2022.
• Carrier Global average operating margin for 2022 was 20.45%, a 22.38% decline from 2021.
• Carrier Global average operating margin for 2021 was 16.71%, a 20.56% 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.