• Tenaris S.A average operating margin for 2023 was 29.31%, a 46.26% decline from 2022.
• Tenaris S.A average operating margin for 2022 was 20.04%, a 312.35% increase from 2021.
• Tenaris S.A average operating margin for 2021 was 4.86%, a 177.51% increase 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.