• Lam Research average gross margin for 2023 was 44.83%, a 1.84% increase from 2022.
• Lam Research average gross margin for 2022 was 45.67%, a 1.53% decline from 2021.
• Lam Research average gross margin for 2021 was 46.38%, a 0.41% 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.