• Flex average operating margin for 2023 was 3.62%, a 0.55% decline from 2022.
• Flex average operating margin for 2022 was 3.64%, a 3.45% decline from 2021.
• Flex average operating margin for 2021 was 3.77%, a 69.06% 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.