• Applied Materials average gross margin for 2023 was 46.46%, a 1.55% increase from 2022.
• Applied Materials average gross margin for 2022 was 47.19%, a 2.14% decline from 2021.
• Applied Materials average gross margin for 2021 was 46.2%, a 4.52% 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.