• Canon average gross margin for 2023 was 46.34%, a 1.27% increase from 2022.
• Canon average gross margin for 2022 was 45.76%, a 1.33% increase from 2021.
• Canon average gross margin for 2021 was 45.16%, a 2.43% 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.