• Heico average operating margin for 2023 was 22.02%, a 0.46% decline from 2022.
• Heico average operating margin for 2022 was 21.92%, a 7.4% increase from 2021.
• Heico average operating margin for 2021 was 20.41%, a 6.5% 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.