• Ternium S.A average gross margin for 2023 was 19.4%, a 31.01% decline from 2022.
• Ternium S.A average gross margin for 2022 was 28.12%, a 21.85% decline from 2021.
• Ternium S.A average gross margin for 2021 was 35.98%, a 118.46% 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.