• Fortune Brands Innovations average gross margin for 2023 was 40.8%, a 9.25% increase from 2022.
• Fortune Brands Innovations average gross margin for 2022 was 44.96%, a 11.09% decline from 2021.
• Fortune Brands Innovations average gross margin for 2021 was 40.47%, a 10% 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.