• Honda average operating margin for 2023 was 5.32%, a 7.64% increase from 2022.
• Honda average operating margin for 2022 was 5.76%, a 6.19% decline from 2021.
• Honda average operating margin for 2021 was 6.14%, a 99.35% 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.