• Canadian National Railway average gross margin for 2023 was 73.52%, a 0.15% increase from 2022.
• Canadian National Railway average gross margin for 2022 was 73.41%, a 2.94% increase from 2021.
• Canadian National Railway average gross margin for 2021 was 75.63%, a 0.99% 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.