• Hershey average gross margin for 2023 was 44.2%, a 0.29% increase from 2022.
• Hershey average gross margin for 2022 was 44.07%, a 3.57% increase from 2021.
• Hershey average gross margin for 2021 was 45.7%, a 1.51% 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.