• Stantec average gross margin for 2023 was 42.3%, a 1.63% increase from 2022.
• Stantec average gross margin for 2022 was 43%, a 6.57% decline from 2021.
• Stantec average gross margin for 2021 was 40.35%, a 5.64% 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.