• TFI average operating margin for 2023 was 11.17%, a 11.56% decline from 2022.
• TFI average operating margin for 2022 was 12.63%, a 7.4% decline from 2021.
• TFI average operating margin for 2021 was 13.64%, a 24% 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.