• Ecopetrol S.A average operating margin for 2023 was 35.07%, a 1.21% decline from 2022.
• Ecopetrol S.A average operating margin for 2022 was 34.65%, a 65.55% increase from 2021.
• Ecopetrol S.A average operating margin for 2021 was 20.93%, a 14.95% 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.