• Phillips 66 average operating margin for 2023 was 7.09%, a 62.99% decline from 2022.
• Phillips 66 average operating margin for 2022 was 4.35%, a 229.85% increase from 2021.
• Phillips 66 average operating margin for 2021 was -3.35%, a 18.49% 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.