• Morningstar average operating margin for 2023 was 8.41%, a 29.86% increase from 2022.
• Morningstar average operating margin for 2022 was 11.99%, a 21.53% decline from 2021.
• Morningstar average operating margin for 2021 was 15.28%, a 2.34% 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.