• Recruit Holdings average gross margin for 2023 was 57.92%, a 0.17% decline from 2022.
• Recruit Holdings average gross margin for 2022 was 58.02%, a 9.08% decline from 2021.
• Recruit Holdings average gross margin for 2021 was 53.19%, a 1.12% 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.