• Stag Industrial average gross margin for 2023 was 80.38%, a 0.62% decline from 2022.
• Stag Industrial average gross margin for 2022 was 80.88%, a 0.05% decline from 2021.
• Stag Industrial average gross margin for 2021 was 80.84%, a 1.23% 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.