• Watts Water Technologies average gross margin for 2023 was 45.78%, a 5.31% increase from 2022.
• Watts Water Technologies average gross margin for 2022 was 43.47%, a 3.3% increase from 2021.
• Watts Water Technologies average gross margin for 2021 was 42.08%, a 0.45% 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.