• Elevance Health average gross margin for 2023 was 17.36%, a 0.91% decline from 2022.
• Elevance Health average gross margin for 2022 was 17.52%, a 6.71% decline from 2021.
• Elevance Health average gross margin for 2021 was 18.78%, a 8.03% 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.