• Middleby average operating margin for 2023 was 16.76%, a 0.24% decline from 2022.
• Middleby average operating margin for 2022 was 16.8%, a 1.51% decline from 2021.
• Middleby average operating margin for 2021 was 16.55%, a 8.52% 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.