• Teradyne average gross margin for 2023 was 57.91%, a 2.92% decline from 2022.
• Teradyne average gross margin for 2022 was 59.65%, a 1.43% decline from 2021.
• Teradyne average gross margin for 2021 was 58.81%, a 2.21% 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.