• Cognex average operating margin for 2023 was 18.76%, a 29.55% decline from 2022.
• Cognex average operating margin for 2022 was 26.63%, a 11.85% decline from 2021.
• Cognex average operating margin for 2021 was 30.21%, a 77.92% 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.