• Otis Worldwide average operating margin for 2023 was 15.21%, a 3.05% decline from 2022.
• Otis Worldwide average operating margin for 2022 was 14.76%, a 3.36% increase from 2021.
• Otis Worldwide average operating margin for 2021 was 14.28%, a 9.34% 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.