• Terumo average gross margin for 2023 was 52.49%, a 2.27% decline from 2022.
• Terumo average gross margin for 2022 was 53.71%, a 2.04% decline from 2021.
• Terumo average gross margin for 2021 was 54.83%, a 0.54% 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.