• Lear average gross margin for 2023 was 7.23%, a 13.32% decline from 2022.
• Lear average gross margin for 2022 was 6.38%, a 18.31% increase from 2021.
• Lear average gross margin for 2021 was 7.81%, a 16.74% 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.