• Quanta Services average gross margin for 2023 was 14.38%, a 3.36% decline from 2022.
• Quanta Services average gross margin for 2022 was 14.88%, a 2.43% decline from 2021.
• Quanta Services average gross margin for 2021 was 15.25%, a 9.24% 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.