• Makita average gross margin for 2023 was 31.44%, a 2.99% decline from 2022.
• Makita average gross margin for 2022 was 32.41%, a 6.28% decline from 2021.
• Makita average gross margin for 2021 was 34.58%, a 1.9% 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.