• Toro average operating margin for 2023 was 11.67%, a 1.1% decline from 2022.
• Toro average operating margin for 2022 was 11.8%, a 14.31% decline from 2021.
• Toro average operating margin for 2021 was 13.77%, a 22.95% 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.