Intuit Inc. stock research
FY2025 Q4
Intuit (INTU) Gross Margin — Quarter Ended Jul 31, 2025
Revenue, gross profit, cost of revenue, and gross margin all moved in the same direction. Gross profit increased relative to the prior year but was lower than the preceding quarter.
Gross margin takeaway
Quarter ended Jul 31, 2025 · FY2025 Q4
Revenue, gross profit, cost of revenue, and gross margin all moved in the same direction. Gross profit increased relative to the prior year but was lower than the preceding quarter.
- The gross margin was higher than the same quarter one year earlier, though it weakened compared to the immediately preceding quarter. The most observable driver is the relative change in cost of revenue versus revenue.
- Compared to the preceding quarter, revenue was lower while cost of revenue decreased proportionally less, resulting in a weakened gross margin. versus the same quarter last year, revenue was higher and cost of revenue increased at a lesser rate, leading to an improved gross margin.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
76.7%
Gross profit
$2.9B
Revenue
$3.8B
Cost of revenue
$894.0M
Quarter-over-quarter change
-7.9 pts
Year-over-year change
+1.3 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 |
|---|---|---|---|---|
| Oct 31, 2024 | $3.3B | $2.5B | $823.0M | 74.9% |
| Jan 31, 2025 | $4.0B | $3.0B | $937.0M | 76.4% |
| Apr 30, 2025 | $7.8B | $6.6B | $1.2B | 84.6% |
| Jul 31, 2025 | $3.8B | $2.9B | $894.0M | 76.7% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Apr 30, 2025
-7.9 pts
Year-over-year change
Jul 31, 2024
+1.3 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The gross margin was higher than the same quarter one year earlier, though it weakened compared to the immediately preceding quarter. The most observable driver is the relative change in cost of revenue versus revenue.
Compared to the preceding quarter, revenue was lower while cost of revenue decreased proportionally less, resulting in a weakened gross margin. versus the same quarter last year, revenue was higher and cost of revenue increased at a lesser rate, leading to an improved gross margin.
Monitor whether the cost of revenue trend relative to revenue continues to narrow the gap between quarterly comparisons.