Corteva, Inc. stock research
FY2025 Q3
Corteva (CTVA) Gross Margin — Quarter Ended Sep 30, 2025
Revenue and gross profit decreased from the prior quarter, with cost of revenue declining less proportionally, causing gross margin to weaken. Compared to the same quarter last year, revenue and gross profit increased while cost of revenue remained stable, resulting in an improved gross margin.
Gross margin takeaway
Quarter ended Sep 30, 2025 · FY2025 Q3
Revenue and gross profit decreased from the prior quarter, with cost of revenue declining less proportionally, causing gross margin to weaken. Compared to the same quarter last year, revenue and gross profit increased while cost of revenue remained stable, resulting in an improved gross margin.
- The most notable observable driver is the year-over-year improvement in gross margin, as revenue grew without a corresponding increase in cost of revenue. This contrasts with the sequential decline, where cost of revenue did not fall as much as revenue.
- Gross margin weakened sequentially from the prior quarter, but improved compared to the same quarter one year earlier.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
37.2%
Gross profit
$974.0M
Revenue
$2.6B
Cost of revenue
$1.6B
Quarter-over-quarter change
-17.4 pts
Year-over-year change
+4.5 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 | $4.0B | $1.5B | $2.5B | 37.3% |
| Mar 31, 2025 | $4.4B | $2.1B | $2.3B | 47.0% |
| Jun 30, 2025 | $6.5B | $3.5B | $2.9B | 54.6% |
| Sep 30, 2025 | $2.6B | $974.0M | $1.6B | 37.2% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Jun 30, 2025
-17.4 pts
Year-over-year change
Sep 30, 2024
+4.5 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The most notable observable driver is the year-over-year improvement in gross margin, as revenue grew without a corresponding increase in cost of revenue. This contrasts with the sequential decline, where cost of revenue did not fall as much as revenue.
Gross margin weakened sequentially from the prior quarter, but improved compared to the same quarter one year earlier.
Monitor the trend of cost of revenue relative to revenue, as it remained flat year-over-year despite revenue growth.