• Broadcom average gross margin for 2023 was 67.98%, a 4.75% decline from 2022.
• Broadcom average gross margin for 2022 was 64.9%, a 9.04% increase from 2021.
• Broadcom average gross margin for 2021 was 59.52%, a 6.86% 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.