• Gerdau S.A average operating margin for 2023 was 17.79%, a 27.42% decline from 2022.
• Gerdau S.A average operating margin for 2022 was 24.51%, a 6.2% decline from 2021.
• Gerdau S.A average operating margin for 2021 was 23.08%, a 179.42% 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.