• NVent Electric average operating margin for 2023 was 16.1%, a 15.49% increase from 2022.
• NVent Electric average operating margin for 2022 was 13.94%, a 52.68% increase from 2021.
• NVent Electric average operating margin for 2021 was 9.13%, a 15.42% 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.