• Magna average operating margin for 2023 was 4.32%, a 2.04% increase from 2022.
• Magna average operating margin for 2022 was 4.41%, a 28.87% decline from 2021.
• Magna average operating margin for 2021 was 6.2%, a 56.96% 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.