• Allegion average gross margin for 2023 was 42.25%, a 3.81% increase from 2022.
• Allegion average gross margin for 2022 was 40.7%, a 5.11% increase from 2021.
• Allegion average gross margin for 2021 was 42.89%, a 1.76% decline 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.