• Universal Display average operating margin for 2023 was 40.36%, a 0.76% decline from 2022.
• Universal Display average operating margin for 2022 was 40.67%, a 2.75% decline from 2021.
• Universal Display average operating margin for 2021 was 41.82%, a 18.91% 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.