• JBS SA average gross margin for 2023 was 11.91%, a 34.13% increase from 2022.
• JBS SA average gross margin for 2022 was 18.08%, a 2.26% decline from 2021.
• JBS SA average gross margin for 2021 was 17.68%, a 7.15% 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.