IDEX Corporation stock research
FY2025 Q4
IDEX (IEX) Gross Margin — Quarter Ended Dec 31, 2025
Revenue increased compared to both the prior quarter and the same quarter last year. Gross profit was slightly lower than the prior quarter but higher than a year ago, while cost of revenue rose in both periods, resulting in a gross margin that weakened sequentially but improved year over year.
Gross margin takeaway
Quarter ended Dec 31, 2025 · FY2025 Q4
Revenue increased compared to both the prior quarter and the same quarter last year. Gross profit was slightly lower than the prior quarter but higher than a year ago, while cost of revenue rose in both periods, resulting in a gross margin that weakened sequentially but improved year over year.
- Sequentially, cost of revenue increased at a faster pace than revenue, compressing gross margin. Year over year, revenue growth exceeded cost growth, supporting margin expansion.
- Compared to the prior quarter, gross margin was lower as cost of revenue rose more than revenue. Compared to the same quarter last year, gross margin was higher, with revenue growth outpacing cost growth.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
43.1%
Gross profit
$387.1M
Revenue
$899.1M
Cost of revenue
$512.0M
Quarter-over-quarter change
-1.4 pts
Year-over-year change
+0.5 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 |
|---|---|---|---|---|
| Mar 31, 2025 | $814.3M | $368.9M | $445.4M | 45.3% |
| Jun 30, 2025 | $865.4M | $392.2M | $473.2M | 45.3% |
| Sep 30, 2025 | $878.7M | $390.6M | $488.1M | 44.5% |
| Dec 31, 2025 | $899.1M | $387.1M | $512.0M | 43.1% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Sep 30, 2025
-1.4 pts
Year-over-year change
Dec 31, 2024
+0.5 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
Sequentially, cost of revenue increased at a faster pace than revenue, compressing gross margin. Year over year, revenue growth exceeded cost growth, supporting margin expansion.
Compared to the prior quarter, gross margin was lower as cost of revenue rose more than revenue. Compared to the same quarter last year, gross margin was higher, with revenue growth outpacing cost growth.
Monitor the trend in cost of revenue relative to revenue, noting that the company's forward-looking statements reference potential impacts from tariffs and global trade policies.