• Invitation Home average operating margin for 2023 was 28.25%, a 1.07% decline from 2022.
• Invitation Home average operating margin for 2022 was 27.95%, a 5.27% increase from 2021.
• Invitation Home average operating margin for 2021 was 26.55%, a 7.23% 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.