• Teradyne average operating margin for 2023 was 21.3%, a 25.99% decline from 2022.
• Teradyne average operating margin for 2022 was 28.78%, a 9.95% decline from 2021.
• Teradyne average operating margin for 2021 was 31.96%, a 13.9% 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.