• NIKE average gross margin for 2023 was 43.71%, a 4.02% increase from 2022.
• NIKE average gross margin for 2022 was 45.54%, a 1.58% decline from 2021.
• NIKE average gross margin for 2021 was 44.83%, a 2.84% increase 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.