• Shin-Etsu Chemical average operating margin for 2023 was 31.89%, a 2.87% increase from 2022.
• Shin-Etsu Chemical average operating margin for 2022 was 31%, a 14.73% increase from 2021.
• Shin-Etsu Chemical average operating margin for 2021 was 27.02%, a 7.56% 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.