• Parsons average gross margin for 2023 was 21.77%, a 4.77% decline from 2022.
• Parsons average gross margin for 2022 was 22.86%, a 1.64% decline from 2021.
• Parsons average gross margin for 2021 was 23.24%, a 6.41% 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.