• Walgreens average gross margin for 2023 was 19.61%, a 8.88% decline from 2022.
• Walgreens average gross margin for 2022 was 21.52%, a 1.46% decline from 2021.
• Walgreens average gross margin for 2021 was 21.21%, a 3.98% 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.