Amcor plc stock research
FY2026 Q1
Amcor (AMCR) Gross Margin — Quarter Ended Sep 30, 2025
Revenue and gross profit both increased compared to the immediately preceding quarter, while cost of revenue also rose, resulting in an improved gross margin. Compared to the same quarter one year earlier, revenue and gross profit were higher, cost of revenue was higher, and gross margin was slightly lower.
Gross margin takeaway
Quarter ended Sep 30, 2025 · FY2026 Q1
Revenue and gross profit both increased compared to the immediately preceding quarter, while cost of revenue also rose, resulting in an improved gross margin. Compared to the same quarter one year earlier, revenue and gross profit were higher, cost of revenue was higher, and gross margin was slightly lower.
- The most observable margin driver is the relationship between revenue and cost of revenue; revenue growth outpaced cost growth compared to the prior quarter, supporting margin expansion.
- Compared to the preceding quarter, gross margin improved as revenue grew at a faster pace than cost of revenue. Compared to the same quarter last year, gross margin weakened slightly, with revenue and cost of revenue both higher.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
19.6%
Gross profit
$1.1B
Revenue
$5.7B
Cost of revenue
$4.6B
Quarter-over-quarter change
-0.1 pts
Year-over-year change
-0.1 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Sep 30, 2024 | $3.4B | $659.0M | $2.7B | 19.7% |
| Dec 31, 2024 | $3.2B | $626.0M | $2.6B | 19.3% |
| Mar 31, 2025 | $3.3B | $654.0M | $2.7B | 19.6% |
| Sep 30, 2025 | $5.7B | $1.1B | $4.6B | 19.6% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Mar 31, 2025
-0.1 pts
Year-over-year change
Sep 30, 2024
-0.1 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The most observable margin driver is the relationship between revenue and cost of revenue; revenue growth outpaced cost growth compared to the prior quarter, supporting margin expansion.
Compared to the preceding quarter, gross margin improved as revenue grew at a faster pace than cost of revenue. Compared to the same quarter last year, gross margin weakened slightly, with revenue and cost of revenue both higher.
Monitor the trajectory of cost of revenue relative to revenue in subsequent quarters to assess ongoing margin stability.