GE Vernova Inc. stock research
FY2025 Q1
GE Vernova (GEV) Gross Margin — Quarter Ended Mar 31, 2025
Revenue and gross profit declined from the prior quarter but rose compared to the same quarter last year. Gross margin weakened sequentially while improving year-over-year, driven by changes in cost of revenue relative to revenue.
Gross margin takeaway
Quarter ended Mar 31, 2025 · FY2025 Q1
Revenue and gross profit declined from the prior quarter but rose compared to the same quarter last year. Gross margin weakened sequentially while improving year-over-year, driven by changes in cost of revenue relative to revenue.
- The primary driver was the relationship between cost of revenue and revenue: cost decreased less than revenue sequentially and increased less than revenue year-over-year.
- Compared to the prior quarter, revenue, gross profit, and gross margin were all lower. Compared to the same quarter last year, revenue, gross profit, and gross margin were all higher.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
18.3%
Gross profit
$1.5B
Revenue
$8.0B
Cost of revenue
$6.6B
Quarter-over-quarter change
-1.8 pts
Year-over-year change
+2.5 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 |
|---|---|---|---|---|
| Jun 30, 2024 | $8.2B | $1.7B | $6.5B | 20.7% |
| Sep 30, 2024 | $8.9B | $1.1B | $7.8B | 12.4% |
| Dec 31, 2024 | $10.6B | $2.1B | $8.4B | 20.1% |
| Mar 31, 2025 | $8.0B | $1.5B | $6.6B | 18.3% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Dec 31, 2024
-1.8 pts
Year-over-year change
Mar 31, 2024
+2.5 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The primary driver was the relationship between cost of revenue and revenue: cost decreased less than revenue sequentially and increased less than revenue year-over-year.
Compared to the prior quarter, revenue, gross profit, and gross margin were all lower. Compared to the same quarter last year, revenue, gross profit, and gross margin were all higher.
Monitor the trend in cost of revenue relative to revenue in future quarters.