• Avery Dennison average gross margin for 2023 was 26.49%, a 1.71% increase from 2022.
• Avery Dennison average gross margin for 2022 was 26.95%, a 3.44% decline from 2021.
• Avery Dennison average gross margin for 2021 was 27.91%, a 2.46% 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.