• Carrier Global average gross margin for 2023 was 27.53%, a 0.54% increase from 2022.
• Carrier Global average gross margin for 2022 was 27.68%, a 5.82% decline from 2021.
• Carrier Global average gross margin for 2021 was 29.39%, a 0.58% 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.