• Cameco average gross margin for 2023 was 28.44%, a 35.95% increase from 2022.
• Cameco average gross margin for 2022 was 20.92%, a 41.54% increase from 2021.
• Cameco average gross margin for 2021 was 14.78%, a 38.47% 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.