• Lincoln National average gross margin for 2023 was -0.84%, a 102.9% decline from 2022.
• Lincoln National average gross margin for 2022 was 28.92%, a 114.54% decline from 2021.
• Lincoln National average gross margin for 2021 was 13.48%, a 378.01% 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.