• Prologis average gross margin for 2023 was 75.05%, a 0.89% decline from 2022.
• Prologis average gross margin for 2022 was 74.39%, a 1.2% increase from 2021.
• Prologis average gross margin for 2021 was 73.51%, a 0.31% 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.