• Southwest Gas average gross margin for 2023 was 79.2%, a 6.91% decline from 2022.
• Southwest Gas average gross margin for 2022 was 85.08%, a 4.79% decline from 2021.
• Southwest Gas average gross margin for 2021 was 89.36%, a 0.37% 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.