• Toro average gross margin for 2024 was 34.13%, a 1.04% decline from 2023.
• Toro average gross margin for 2023 was 34.49%, a 5.51% decline from 2022.
• Toro average gross margin for 2022 was 32.69%, a 6.14% increase from 2021.

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.