• Nutrien average gross margin for 2023 was 33.15%, a 17.76% decline from 2022.
• Nutrien average gross margin for 2022 was 40.31%, a 37.53% decline from 2021.
• Nutrien average gross margin for 2021 was 29.31%, a 14.22% 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.