• KeyCorp average operating margin for 2023 was 14.53%, a 55.17% decline from 2022.
• KeyCorp average operating margin for 2022 was 32.41%, a 22.48% decline from 2021.
• KeyCorp average operating margin for 2021 was 41.81%, a 116.97% 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.