• ITT average operating margin for 2023 was 16.68%, a 6.72% decline from 2022.
• ITT average operating margin for 2022 was 15.63%, a 1.82% increase from 2021.
• ITT average operating margin for 2021 was 15.35%, a 38.29% 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.