• NOV average operating margin for 2023 was 6.83%, a 650.55% increase from 2022.
• NOV average operating margin for 2022 was 0.91%, a 112.55% increase from 2021.
• NOV average operating margin for 2021 was -7.25%, a 85.85% 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.