• Littelfuse average gross margin for 2023 was 38.74%, a 2.52% decline from 2022.
• Littelfuse average gross margin for 2022 was 39.74%, a 10.48% decline from 2021.
• Littelfuse average gross margin for 2021 was 35.97%, a 2.8% 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.