GE Vernova Inc. stock research
FY2025 Q3
GE Vernova (GEV) Gross Margin — Quarter Ended Sep 30, 2025
Revenue, gross profit, and cost of revenue all increased compared to the prior quarter and the same quarter last year. Gross margin improved year-over-year but weakened sequentially, reflecting changes in the relative growth of gross profit and cost of revenue.
Gross margin takeaway
Quarter ended Sep 30, 2025 · FY2025 Q3
Revenue, gross profit, and cost of revenue all increased compared to the prior quarter and the same quarter last year. Gross margin improved year-over-year but weakened sequentially, reflecting changes in the relative growth of gross profit and cost of revenue.
- The strongest observable margin driver is the year-over-year expansion in gross margin, as gross profit grew more than cost of revenue relative to the prior year.
- Compared to the immediately preceding quarter, gross margin weakened as cost of revenue increased at a faster rate than revenue. Compared to the same quarter one year earlier, gross margin improved significantly.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
19.0%
Gross profit
$1.9B
Revenue
$10.0B
Cost of revenue
$8.1B
Quarter-over-quarter change
-1.2 pts
Year-over-year change
+6.6 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 | $10.6B | $2.1B | $8.4B | 20.1% |
| Mar 31, 2025 | $8.0B | $1.5B | $6.6B | 18.3% |
| Jun 30, 2025 | $9.1B | $1.8B | $7.3B | 20.3% |
| Sep 30, 2025 | $10.0B | $1.9B | $8.1B | 19.0% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Jun 30, 2025
-1.2 pts
Year-over-year change
Sep 30, 2024
+6.6 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The strongest observable margin driver is the year-over-year expansion in gross margin, as gross profit grew more than cost of revenue relative to the prior year.
Compared to the immediately preceding quarter, gross margin weakened as cost of revenue increased at a faster rate than revenue. Compared to the same quarter one year earlier, gross margin improved significantly.
Monitor the sequential trend in cost of revenue as a percentage of revenue, as it increased from the prior quarter.