• Nidec average gross margin for 2023 was 19.01%, a 7.27% increase from 2022.
• Nidec average gross margin for 2022 was 20.5%, a 8.69% decline from 2021.
• Nidec average gross margin for 2021 was 22.45%, a 3.22% 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.