• Carrier Global average operating margin for 2023 was 12.07%, a 41.63% decline from 2022.
• Carrier Global average operating margin for 2022 was 20.68%, a 23.76% 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.