• Hoya average operating margin for 2023 was 47.46%, a 2.55% decline from 2022.
• Hoya average operating margin for 2022 was 48.7%, a 2.2% decline from 2021.
• Hoya average operating margin for 2021 was 47.65%, a 2.98% 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.