• Trip Group average gross margin for 2023 was 81.07%, a 5.44% increase from 2022.
• Trip Group average gross margin for 2022 was 76.89%, a 1.65% increase from 2021.
• Trip Group average gross margin for 2021 was 78.18%, a 0.26% 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.