• Lincoln Electric Holdings average gross margin for 2023 was 34.27%, a 1.09% increase from 2022.
• Lincoln Electric Holdings average gross margin for 2022 was 33.9%, a 2.7% increase from 2021.
• Lincoln Electric Holdings average gross margin for 2021 was 33.01%, a 0.24% 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.