• Target average operating margin for 2023 was 4.02%, a 37.19% increase from 2022.
• Target average operating margin for 2022 was 6.4%, a 21.47% decline from 2021.
• Target average operating margin for 2021 was 8.15%, a 38.84% 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.