• Watsco average operating margin for 2023 was 11.2%, a 0.18% decline from 2022.
• Watsco average operating margin for 2022 was 11.22%, a 19.87% decline from 2021.
• Watsco average operating margin for 2021 was 9.36%, a 23.81% 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.