• Nintendo average gross margin for 2023 was 59.95%, a 3.59% increase from 2022.
• Nintendo average gross margin for 2022 was 57.87%, a 3.51% increase from 2021.
• Nintendo average gross margin for 2021 was 55.91%, a 7.5% 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.