• Textron average gross margin for 2023 was 16.24%, a 2.23% increase from 2022.
• Textron average gross margin for 2022 was 16.61%, a 6% decline from 2021.
• Textron average gross margin for 2021 was 15.67%, a 11.77% 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.