• Ternium S.A average gross margin for 2023 was 19.77%, a 37.52% decline from 2022.
• Ternium S.A average gross margin for 2022 was 31.64%, a 3.09% decline from 2021.
• Ternium S.A average gross margin for 2021 was 32.65%, a 99.94% 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.