• Equitable Holdings average operating margin for 2023 was 14.67%, a 70.08% decline from 2022.
• Equitable Holdings average operating margin for 2022 was 49.03%, a 118.63% decline from 2021.
• Equitable Holdings average operating margin for 2021 was -263.21%, a 4324.88% decline 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.