• Home Depot average gross margin for 2023 was 33.49%, a 0.21% increase from 2022.
• Home Depot average gross margin for 2022 was 33.56%, a 0.8% decline from 2021.
• Home Depot average gross margin for 2021 was 33.83%, a 0.7% 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.