• Watsco average gross margin for 2024 was 26.84%, a 3% increase from 2023.
• Watsco average gross margin for 2023 was 27.67%, a 0.36% decline from 2022.
• Watsco average gross margin for 2022 was 27.77%, a 8.69% decline from 2021.

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.