Amphenol Corporation stock research
FY2025 Q4
Amphenol (APH) Gross Margin — Quarter Ended Dec 31, 2025
Revenue and cost of revenue both increased this quarter, while gross profit grew at a greater pace, resulting in a higher gross margin. The relationships among the metrics show that the company generated more profit from each dollar of revenue compared to prior periods.
Gross margin takeaway
Quarter ended Dec 31, 2025 · FY2025 Q4
Revenue and cost of revenue both increased this quarter, while gross profit grew at a greater pace, resulting in a higher gross margin. The relationships among the metrics show that the company generated more profit from each dollar of revenue compared to prior periods.
- The strongest observable margin driver is the difference between revenue growth and cost of revenue growth, which allowed gross profit to expand and gross margin to improve. This pattern held when comparing with both the immediately preceding quarter and the same quarter one year earlier.
- Gross margin improved compared with the previous quarter, as revenue and gross profit both increased while cost of revenue rose at a slower rate. Relative to the same quarter one year earlier, gross margin was higher, driven by a larger increase in revenue relative to cost of revenue.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
38.2%
Gross profit
$2.5B
Revenue
$6.4B
Cost of revenue
$4.0B
Quarter-over-quarter change
+0.1 pts
Year-over-year change
+3.9 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, 2025 | $4.8B | $1.6B | $3.2B | 34.2% |
| Jun 30, 2025 | $5.7B | $2.1B | $3.6B | 36.3% |
| Sep 30, 2025 | $6.2B | $2.4B | $3.8B | 38.1% |
| Dec 31, 2025 | $6.4B | $2.5B | $4.0B | 38.2% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Sep 30, 2025
+0.1 pts
Year-over-year change
Dec 31, 2024
+3.9 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The strongest observable margin driver is the difference between revenue growth and cost of revenue growth, which allowed gross profit to expand and gross margin to improve. This pattern held when comparing with both the immediately preceding quarter and the same quarter one year earlier.
Gross margin improved compared with the previous quarter, as revenue and gross profit both increased while cost of revenue rose at a slower rate. Relative to the same quarter one year earlier, gross margin was higher, driven by a larger increase in revenue relative to cost of revenue.
Monitor the company's compliance with debt covenants as described in the filing, since any breach could have a material adverse effect.