• Deere average gross margin for 2023 was 36.41%, a 12.41% increase from 2022.
• Deere average gross margin for 2022 was 32.39%, a 5.49% increase from 2021.
• Deere average gross margin for 2021 was 34.27%, a 4.99% 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.