• Inpex average gross margin for 2023 was 53.37%, a 1.97% increase from 2022.
• Inpex average gross margin for 2022 was 52.34%, a 3.15% increase from 2021.
• Inpex average gross margin for 2021 was 54.04%, a 1.03% 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.