• Ryder System average operating margin for 2023 was 7.31%, a 3.56% decline from 2022.
• Ryder System average operating margin for 2022 was 7.58%, a 44.93% decline from 2021.
• Ryder System average operating margin for 2021 was 5.23%, a 265.73% 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.