• News average gross margin for 2023 was 48.62%, a 3.05% increase from 2022.
• News average gross margin for 2022 was 50.15%, a 2.24% decline from 2021.
• News average gross margin for 2021 was 49.05%, a 9.27% 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.