• StepStone Group average operating margin for 2023 was 24.62%, a 7.65% decline from 2022.
• StepStone Group average operating margin for 2022 was 26.66%, a 35.81% decline from 2021.
• StepStone Group average operating margin for 2021 was 41.53%, a 70.55% 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.