• Royal Bank Of Canada average gross margin for 2023 was 54.85%, a 32.62% decline from 2022.
• Royal Bank Of Canada average gross margin for 2022 was 81.41%, a 2.92% decline from 2021.
• Royal Bank Of Canada average gross margin for 2021 was 83.86%, a 15.91% 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.