• Littelfuse average operating margin for 2023 was 16.64%, a 19.03% decline from 2022.
• Littelfuse average operating margin for 2022 was 20.55%, a 23.8% decline from 2021.
• Littelfuse average operating margin for 2021 was 16.6%, a 61.17% 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.