• UPS average operating margin for 2023 was 11.31%, a 15.79% decline from 2022.
• UPS average operating margin for 2022 was 13.43%, a 15.48% decline from 2021.
• UPS average operating margin for 2021 was 11.63%, a 20.89% 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.