• Sandvik AB average gross margin for 2023 was 40.72%, a 1.04% decline from 2022.
• Sandvik AB average gross margin for 2022 was 40.3%, a 1.08% increase from 2021.
• Sandvik AB average gross margin for 2021 was 39.87%, a 5.03% 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.