• Albemarle average gross margin for 2023 was 31.56%, a 16.33% decline from 2022.
• Albemarle average gross margin for 2022 was 37.72%, a 21.25% decline from 2021.
• Albemarle average gross margin for 2021 was 31.11%, a 6.3% 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.