• Home Depot average operating margin for 2023 was 14.96%, a 2.03% decline from 2022.
• Home Depot average operating margin for 2022 was 15.27%, a 4.52% decline from 2021.
• Home Depot average operating margin for 2021 was 14.61%, a 3.91% 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.