• Donaldson average operating margin for 2023 was 14.06%, a 4.3% increase from 2022.
• Donaldson average operating margin for 2022 was 13.48%, a 1.66% increase from 2021.
• Donaldson average operating margin for 2021 was 13.26%, a 1.12% 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.