• Eastman Chemical average gross margin for 2023 was 21.17%, a 2.22% increase from 2022.
• Eastman Chemical average gross margin for 2022 was 21.65%, a 10.09% decline from 2021.
• Eastman Chemical average gross margin for 2021 was 24.08%, a 2.51% 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.