• Valero Energy average operating margin for 2023 was 9.46%, a 45.31% decline from 2022.
• Valero Energy average operating margin for 2022 was 6.51%, a 5818.18% increase from 2021.
• Valero Energy average operating margin for 2021 was 0.11%, a 78% 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.