• UGI average operating margin for 2023 was -9.1%, a 151.3% decline from 2022.
• UGI average operating margin for 2022 was 17.74%, a 26.78% decline from 2021.
• UGI average operating margin for 2021 was 24.23%, a 79.35% 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.