• Dow average operating margin for 2023 was 4.87%, a 60.91% decline from 2022.
• Dow average operating margin for 2022 was 12.46%, a 19.01% decline from 2021.
• Dow average operating margin for 2021 was 10.47%, a 1845% 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.