• Smc average operating margin for 2023 was 30.02%, a 0.69% decline from 2022.
• Smc average operating margin for 2022 was 30.23%, a 1.02% decline from 2021.
• Smc average operating margin for 2021 was 30.54%, a 0.03% 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.