• Progressive average operating margin for 2023 was 6.01%, a 45.52% increase from 2022.
• Progressive average operating margin for 2022 was 4.13%, a 71.14% increase from 2021.
• Progressive average operating margin for 2021 was 14.31%, a 6.47% 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.