• Reliance average operating margin for 2023 was 12.76%, a 14.48% decline from 2022.
• Reliance average operating margin for 2022 was 14.92%, a 26.44% decline from 2021.
• Reliance average operating margin for 2021 was 11.8%, a 68.33% 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.