• Trex average operating margin for 2023 was 22.54%, a 2.51% increase from 2022.
• Trex average operating margin for 2022 was 23.12%, a 8.94% decline from 2021.
• Trex average operating margin for 2021 was 25.39%, a 6.1% 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.