• Thor Industries average gross margin for 2023 was 14.93%, a 11.6% decline from 2022.
• Thor Industries average gross margin for 2022 was 16.89%, a 11.41% decline from 2021.
• Thor Industries average gross margin for 2021 was 15.16%, a 11.55% 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.