• Herc Holdings average gross margin for 2023 was 57.41%, a 2.18% decline from 2022.
• Herc Holdings average gross margin for 2022 was 58.69%, a 7.27% decline from 2021.
• Herc Holdings average gross margin for 2021 was 54.71%, a 9.27% 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.