Amcor plc stock research
FY2026 Q2
Amcor (AMCR) Gross Margin — Quarter Ended Dec 31, 2025
Revenue and gross profit declined from the prior quarter but rose sharply versus the same quarter a year ago. Gross margin weakened slightly compared to both periods, reflecting a small increase in cost of revenue relative to revenue.
Gross margin takeaway
Quarter ended Dec 31, 2025 · FY2026 Q2
Revenue and gross profit declined from the prior quarter but rose sharply versus the same quarter a year ago. Gross margin weakened slightly compared to both periods, reflecting a small increase in cost of revenue relative to revenue.
- The change in cost of revenue relative to revenue was the most significant observable factor. Cost of revenue decreased less than revenue sequentially and increased more than revenue year-over-year, resulting in a slightly lower gross margin.
- Compared to the prior quarter, revenue, gross profit, and cost of revenue were all lower, but gross margin weakened. Compared to the same quarter a year earlier, revenue and gross profit were higher, cost of revenue was higher, and gross margin was slightly lower.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
19.1%
Gross profit
$1.0B
Revenue
$5.4B
Cost of revenue
$4.4B
Quarter-over-quarter change
-0.5 pts
Year-over-year change
-0.2 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 |
|---|---|---|---|---|
| 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% |
| Dec 31, 2025 | $5.4B | $1.0B | $4.4B | 19.1% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Sep 30, 2025
-0.5 pts
Year-over-year change
Dec 31, 2024
-0.2 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The change in cost of revenue relative to revenue was the most significant observable factor. Cost of revenue decreased less than revenue sequentially and increased more than revenue year-over-year, resulting in a slightly lower gross margin.
Compared to the prior quarter, revenue, gross profit, and cost of revenue were all lower, but gross margin weakened. Compared to the same quarter a year earlier, revenue and gross profit were higher, cost of revenue was higher, and gross margin was slightly lower.
Monitor the trend in cost of revenue as a proportion of revenue, as it directly influences gross margin movement.