• Carpenter Technology average gross margin for 2023 was 14.42%, a 82.07% increase from 2022.
• Carpenter Technology average gross margin for 2022 was 7.92%, a 560% increase from 2021.
• Carpenter Technology average gross margin for 2021 was 1.2%, a 90.86% 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.