• NVR average operating margin for 2023 was 20.69%, a 2.5% decline from 2022.
• NVR average operating margin for 2022 was 21.22%, a 22.73% decline from 2021.
• NVR average operating margin for 2021 was 17.29%, a 22.89% 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.