• Lennox average operating margin for 2023 was 15.16%, a 10.42% increase from 2022.
• Lennox average operating margin for 2022 was 13.73%, a 7.23% increase from 2021.
• Lennox average operating margin for 2021 was 14.8%, a 1.3% 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.