• Citigroup average gross margin for 2023 was 57.15%, a 31.8% decline from 2022.
• Citigroup average gross margin for 2022 was 83.8%, a 6.66% decline from 2021.
• Citigroup average gross margin for 2021 was 89.78%, a 12.85% 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.