• Fairfax Financial Holdings average gross margin for 2023 was 39.05%, a 24.63% increase from 2022.
• Fairfax Financial Holdings average gross margin for 2022 was 51.81%, a 12.39% decline from 2021.
• Fairfax Financial Holdings average gross margin for 2021 was 59.14%, a 10.62% 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.