• Anheuser-Busch average gross margin for 2023 was 54.12%, a 2.63% increase from 2022.
• Anheuser-Busch average gross margin for 2022 was 55.58%, a 3.91% decline from 2021.
• Anheuser-Busch average gross margin for 2021 was 57.84%, a 2.18% 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.