• Parker-Hannifin average operating margin for 2023 was 16.79%, a 1.41% increase from 2022.
• Parker-Hannifin average operating margin for 2022 was 17.03%, a 2.84% decline from 2021.
• Parker-Hannifin average operating margin for 2021 was 16.56%, a 23.77% 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.