• Bank Of Montreal average gross margin for 2023 was 54.76%, a 32.74% decline from 2022.
• Bank Of Montreal average gross margin for 2022 was 81.42%, a 1.19% decline from 2021.
• Bank Of Montreal average gross margin for 2021 was 80.46%, a 17.15% 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.