• Philip Morris average gross margin for 2023 was 63.03%, a 4.17% increase from 2022.
• Philip Morris average gross margin for 2022 was 65.77%, a 3.21% decline from 2021.
• Philip Morris average gross margin for 2021 was 67.95%, a 2.89% 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.