• Snap-On average operating margin for 2023 was 27.48%, a 2.5% increase from 2022.
• Snap-On average operating margin for 2022 was 26.81%, a 2.76% increase from 2021.
• Snap-On average operating margin for 2021 was 26.09%, a 7.81% 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.