Comfort Systems USA, Inc. stock research
FY2025 Q4
Comfort Systems USA (FIX) Gross Margin — Quarter Ended Dec 31, 2025
Revenue and gross profit were lower compared to the prior quarter, and gross margin weakened slightly. Compared to the same quarter one year earlier, revenue and gross profit were higher, and gross margin improved.
Gross margin takeaway
Quarter ended Dec 31, 2025 · FY2025 Q4
Revenue and gross profit were lower compared to the prior quarter, and gross margin weakened slightly. Compared to the same quarter one year earlier, revenue and gross profit were higher, and gross margin improved.
- Gross profit moved in the same direction as revenue relative to both comparison periods, while cost of revenue changed proportionally, resulting in moderate gross margin shifts.
- Compared to the prior quarter, revenue and gross profit were lower, and gross margin weakened from a slightly higher level. Versus the same quarter a year ago, revenue and gross profit were higher, and gross margin improved from a lower base.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
24.2%
Gross profit
-$1.1B
Revenue
-$4.6B
Cost of revenue
-$3.5B
Quarter-over-quarter change
-0.6 pts
Year-over-year change
+0.9 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 | $1.8B | $403.4M | $1.4B | 22.0% |
| Jun 30, 2025 | $2.2B | $509.9M | $1.7B | 23.5% |
| Sep 30, 2025 | $2.5B | $607.9M | $1.8B | 24.8% |
| Dec 31, 2025 | -$4.6B | -$1.1B | -$3.5B | 24.2% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Sep 30, 2025
-0.6 pts
Year-over-year change
Dec 31, 2024
+0.9 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
Gross profit moved in the same direction as revenue relative to both comparison periods, while cost of revenue changed proportionally, resulting in moderate gross margin shifts.
Compared to the prior quarter, revenue and gross profit were lower, and gross margin weakened from a slightly higher level. Versus the same quarter a year ago, revenue and gross profit were higher, and gross margin improved from a lower base.
Monitor the trajectory of cost of revenue relative to revenue in upcoming periods, as gross margin changes have been modest but sequential direction is mixed.