• V.F average operating margin for 2023 was 3.16%, a 67.79% decline from 2022.
• V.F average operating margin for 2022 was 9.81%, a 6.75% decline from 2021.
• V.F average operating margin for 2021 was 10.52%, a 94.81% 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.