• Ventas average gross margin for 2023 was 93.16%, a 0.03% increase from 2022.
• Ventas average gross margin for 2022 was 93.19%, a 0.72% decline from 2021.
• Ventas average gross margin for 2021 was 92.52%, a 0.12% 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.