• 3M average gross margin for 2023 was 42.9%, a 3.94% increase from 2022.
• 3M average gross margin for 2022 was 44.66%, a 6.59% decline from 2021.
• 3M average gross margin for 2021 was 47.81%, a 0.15% 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.