IDEX Corporation stock research
FY2024 Q4
IDEX (IEX) Gross Margin — Quarter Ended Dec 31, 2024
Revenue and gross profit increased compared to the prior quarter and the same quarter last year, but cost of revenue grew at a faster rate, causing gross margin to weaken sequentially and remain nearly level year over year.
Gross margin takeaway
Quarter ended Dec 31, 2024 · FY2024 Q4
Revenue and gross profit increased compared to the prior quarter and the same quarter last year, but cost of revenue grew at a faster rate, causing gross margin to weaken sequentially and remain nearly level year over year.
- The most significant observable driver of gross margin was the pace of cost of revenue growth relative to revenue growth.
- Gross margin weakened from the immediately preceding quarter and was relatively stable compared with the same quarter one year earlier.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
42.5%
Gross profit
$367.1M
Revenue
$862.9M
Cost of revenue
$495.8M
Quarter-over-quarter change
-1.8 pts
Year-over-year change
-0.1 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, 2024 | $800.5M | $357.4M | $443.1M | 44.6% |
| Jun 30, 2024 | $807.2M | $366.8M | $440.4M | 45.4% |
| Sep 30, 2024 | $798.2M | $353.9M | $444.3M | 44.3% |
| Dec 31, 2024 | $862.9M | $367.1M | $495.8M | 42.5% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Sep 30, 2024
-1.8 pts
Year-over-year change
Dec 31, 2023
-0.1 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The most significant observable driver of gross margin was the pace of cost of revenue growth relative to revenue growth.
Gross margin weakened from the immediately preceding quarter and was relatively stable compared with the same quarter one year earlier.
Monitor the trend of cost of revenue changes in relation to revenue changes.