• ConocoPhillips average operating margin for 2023 was 30.74%, a 13.36% decline from 2022.
• ConocoPhillips average operating margin for 2022 was 35.48%, a 104.5% decline from 2021.
• ConocoPhillips average operating margin for 2021 was 17.35%, a 169.83% 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.