• Disney average gross margin for 2023 was 33.39%, a 1.71% increase from 2022.
• Disney average gross margin for 2022 was 33.97%, a 5.2% decline from 2021.
• Disney average gross margin for 2021 was 32.29%, a 4.5% 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.