• Vornado Realty Trust average operating margin for 2023 was 14.69%, a 2.97% decline from 2022.
• Vornado Realty Trust average operating margin for 2022 was 15.14%, a 15240% decline from 2021.
• Vornado Realty Trust average operating margin for 2021 was -0.1%, a 100.73% 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.