• Installed Building Products average operating margin for 2023 was 13.36%, a 17.3% decline from 2022.
• Installed Building Products average operating margin for 2022 was 11.39%, a 17.06% increase from 2021.
• Installed Building Products average operating margin for 2021 was 9.73%, a 6.11% 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.