• ChampionX average operating margin for 2023 was 10.62%, a 45.88% increase from 2022.
• ChampionX average operating margin for 2022 was 7.28%, a 123.31% increase from 2021.
• ChampionX average operating margin for 2021 was 3.26%, a 106.2% 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.