• Procter & Gamble average gross margin for 2023 was 48.56%, a 2.58% increase from 2022.
• Procter & Gamble average gross margin for 2022 was 47.34%, a 6.44% increase from 2021.
• Procter & Gamble average gross margin for 2021 was 50.6%, a 0.06% decline 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.