• Fastenal average operating margin for 2023 was 20.77%, a 0.19% decline from 2022.
• Fastenal average operating margin for 2022 was 20.73%, a 2.52% increase from 2021.
• Fastenal average operating margin for 2021 was 20.22%, a 1% 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.