• Weatherford average gross margin for 2023 was 33.64%, a 16.72% decline from 2022.
• Weatherford average gross margin for 2022 was 28.82%, a 16.49% increase from 2021.
• Weatherford average gross margin for 2021 was 24.74%, a 3.43% 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.