• News average gross margin for 2023 was 48.73%, a 2.33% increase from 2022.
• News average gross margin for 2022 was 49.89%, a 0.38% decline from 2021.
• News average gross margin for 2021 was 49.7%, a 9.21% 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.