• Maximus average gross margin for 2023 was 20.95%, a 4.02% increase from 2022.
• Maximus average gross margin for 2022 was 20.14%, a 9.2% increase from 2021.
• Maximus average gross margin for 2021 was 22.18%, a 6.38% 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.