• F5 average gross margin for 2023 was 78.99%, a 1.5% increase from 2022.
• F5 average gross margin for 2022 was 80.19%, a 1.12% decline from 2021.
• F5 average gross margin for 2021 was 81.1%, a 2.29% 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.