• Graco average operating margin for 2023 was 28.43%, a 7.36% increase from 2022.
• Graco average operating margin for 2022 was 26.48%, a 0.49% increase from 2021.
• Graco average operating margin for 2021 was 26.61%, a 13.28% 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.