• Jfe Holdings average gross margin for 2023 was 11.46%, a 19.58% increase from 2022.
• Jfe Holdings average gross margin for 2022 was 14.25%, a 6.9% decline from 2021.
• Jfe Holdings average gross margin for 2021 was 13.33%, a 46% 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.