• Fortive average gross margin for 2023 was 58.61%, a 1.86% increase from 2022.
• Fortive average gross margin for 2022 was 57.54%, a 1% increase from 2021.
• Fortive average gross margin for 2021 was 56.97%, a 4.76% 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.