• Fabrinet average gross margin for 2023 was 12.64%, a 1.77% decline from 2022.
• Fabrinet average gross margin for 2022 was 12.42%, a 5.25% increase from 2021.
• Fabrinet average gross margin for 2021 was 11.8%, a 4.06% 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.