• National Bank Of Canada average gross margin for 2023 was 50.62%, a 34.22% decline from 2022.
• National Bank Of Canada average gross margin for 2022 was 76.95%, a 1.6% decline from 2021.
• National Bank Of Canada average gross margin for 2021 was 78.2%, a 18.7% 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.