• Carnival average operating margin for 2023 was -4.39%, a 95.71% decline from 2022.
• Carnival average operating margin for 2022 was -102.25%, a 94.61% decline from 2021.
• Carnival average operating margin for 2021 was -1896.3%, a 3224.51% 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.