• Cummins average gross margin for 2023 was 24.03%, a 0.67% increase from 2022.
• Cummins average gross margin for 2022 was 23.87%, a 1.04% increase from 2021.
• Cummins average gross margin for 2021 was 24.12%, a 3.13% 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.