• Alcoa average gross margin for 2023 was 7.76%, a 68.26% increase from 2022.
• Alcoa average gross margin for 2022 was 24.45%, a 19.97% decline from 2021.
• Alcoa average gross margin for 2021 was 20.38%, a 36.5% increase from 2020.

Gross margin can be defined as a company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage.