• Shin-Etsu Chemical average operating margin for 2023 was 34.96%, a 6.42% decline from 2022.
• Shin-Etsu Chemical average operating margin for 2022 was 32.85%, a 19.85% increase from 2021.
• Shin-Etsu Chemical average operating margin for 2021 was 27.41%, a 3.28% 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.