• Cadence Design Systems average gross margin for 2023 was 89.25%, a 0.53% decline from 2022.
• Cadence Design Systems average gross margin for 2022 was 89.73%, a 0.53% decline from 2021.
• Cadence Design Systems average gross margin for 2021 was 89.26%, a 1.06% 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.