• Koninklijke Philips average gross margin for 2023 was 42.36%, a 1.05% increase from 2022.
• Koninklijke Philips average gross margin for 2022 was 42.81%, a 2.93% decline from 2021.
• Koninklijke Philips average gross margin for 2021 was 44.1%, a 1.43% 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.