• Nova average operating margin for 2023 was 25.73%, a 4.6% increase from 2022.
• Nova average operating margin for 2022 was 26.97%, a 7.79% decline from 2021.
• Nova average operating margin for 2021 was 25.02%, a 30.79% 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.