• Gates Industrial average operating margin for 2023 was 12.05%, a 8.27% increase from 2022.
• Gates Industrial average operating margin for 2022 was 11.13%, a 12.15% increase from 2021.
• Gates Industrial average operating margin for 2021 was 12.67%, a 57.2% 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.