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Hi fellow fools -

I would like to have a clear understanding of gross vs operating vs net margins. I have a good grasp of gross vs. net margins, but I am not sure where operating margins fit into this. What do I do to gross margins to get operating margins, and what do I do to operating margins to get net margins?

Also, are net profit margins pre tax or not?

Note to Motley Fool: your posted "dictionary" of financial definitions is a great feature but it is lacking "operating margins." Thanks for your help,

Will of the Wisp
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