AMETEK, Inc. stock research
FY2023 Q3
AMETEK (AME) Gross Margin — Quarter Ended Sep 30, 2023
Revenue remained stable while gross profit increased, leading to an improvement in gross margin. Cost of revenue decreased slightly, contributing to the higher gross profit.
Gross margin takeaway
Quarter ended Sep 30, 2023 · FY2023 Q3
Revenue remained stable while gross profit increased, leading to an improvement in gross margin. Cost of revenue decreased slightly, contributing to the higher gross profit.
- The gross margin improved compared to both the prior quarter and the same quarter last year, driven by a higher gross profit relative to revenue.
- Compared to the prior quarter, gross margin was higher, with gross profit increasing while revenue was stable. Versus the same quarter last year, gross margin also improved, as gross profit rose more than revenue.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
37.1%
Gross profit
$601.9M
Revenue
$1.6B
Cost of revenue
$1.0B
Quarter-over-quarter change
+1.1 pts
Year-over-year change
+1.8 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 |
|---|---|---|---|---|
| Mar 31, 2023 | $1.6B | $574.6M | $1.0B | 36.0% |
| Jun 30, 2023 | $1.6B | $592.9M | $1.1B | 36.0% |
| Sep 30, 2023 | $1.6B | $601.9M | $1.0B | 37.1% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Jun 30, 2023
+1.1 pts
Year-over-year change
Sep 30, 2022
+1.8 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The gross margin improved compared to both the prior quarter and the same quarter last year, driven by a higher gross profit relative to revenue.
Compared to the prior quarter, gross margin was higher, with gross profit increasing while revenue was stable. Versus the same quarter last year, gross margin also improved, as gross profit rose more than revenue.
Monitor the trend in cost of revenue, as its reduction contributed to the margin improvement.