• Pool average gross margin for 2023 was 30.34%, a 3.65% decline from 2022.
• Pool average gross margin for 2022 was 31.49%, a 6.03% decline from 2021.
• Pool average gross margin for 2021 was 29.7%, a 3.63% 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.