AMETEK, Inc. stock research
FY2025 Q1
AMETEK (AME) Gross Margin — Quarter Ended Mar 31, 2025
Revenue was slightly lower than the prior quarter while gross profit decreased by a smaller proportion, resulting in a modest gross margin decline. Compared with the same quarter a year earlier, revenue remained essentially stable, but gross profit rose at a faster rate, leading to an improved gross margin.
Gross margin takeaway
Quarter ended Mar 31, 2025 · FY2025 Q1
Revenue was slightly lower than the prior quarter while gross profit decreased by a smaller proportion, resulting in a modest gross margin decline. Compared with the same quarter a year earlier, revenue remained essentially stable, but gross profit rose at a faster rate, leading to an improved gross margin.
- Gross profit increased compared with the same quarter last year while cost of revenue held steady, which drove gross margin higher. This improvement occurred even though revenue was little changed.
- Gross margin weakened slightly from the prior quarter, as gross profit decreased faster than revenue. Gross margin improved meaningfully compared with the year-ago quarter, driven by higher gross profit on essentially flat revenue.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
36.1%
Gross profit
$625.0M
Revenue
$1.7B
Cost of revenue
$1.1B
Quarter-over-quarter change
-0.5 pts
Year-over-year change
+2.0 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 |
|---|---|---|---|---|
| Jun 30, 2024 | $1.7B | $624.4M | $1.1B | 36.0% |
| Sep 30, 2024 | $1.7B | $615.8M | $1.1B | 36.0% |
| Dec 31, 2024 | $1.8B | $644.7M | $1.1B | 36.6% |
| Mar 31, 2025 | $1.7B | $625.0M | $1.1B | 36.1% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Dec 31, 2024
-0.5 pts
Year-over-year change
Mar 31, 2024
+2.0 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
Gross profit increased compared with the same quarter last year while cost of revenue held steady, which drove gross margin higher. This improvement occurred even though revenue was little changed.
Gross margin weakened slightly from the prior quarter, as gross profit decreased faster than revenue. Gross margin improved meaningfully compared with the year-ago quarter, driven by higher gross profit on essentially flat revenue.
Monitor changes in gross profit relative to cost of revenue, as the recent year-over-year improvement relied on cost growth lagging revenue growth.