• Equifax average gross margin for 2023 was 55.77%, a 4.86% decline from 2022.
• Equifax average gross margin for 2022 was 58.62%, a 1.31% decline from 2021.
• Equifax average gross margin for 2021 was 59.4%, a 2.95% 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.