JABIL INC stock research
FY2023 Q4
JABIL (JBL) Gross Margin — Quarter Ended Aug 31, 2023
Revenue was stable compared to the prior quarter, while gross profit increased and cost of revenue decreased, resulting in an improved gross margin. Compared to the same quarter one year earlier, revenue was lower, but gross profit was higher and cost of revenue was lower, leading to a stronger gross margin.
Gross margin takeaway
Quarter ended Aug 31, 2023 · FY2023 Q4
Revenue was stable compared to the prior quarter, while gross profit increased and cost of revenue decreased, resulting in an improved gross margin. Compared to the same quarter one year earlier, revenue was lower, but gross profit was higher and cost of revenue was lower, leading to a stronger gross margin.
- The gross margin improved sequentially and year-over-year, driven by a combination of higher gross profit and lower cost of revenue relative to revenue.
- Sequentially, gross margin improved from the prior quarter, as gross profit rose while cost of revenue fell. Year-over-year, gross margin also strengthened, with gross profit increasing and cost of revenue declining compared to the same quarter last year.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
9.1%
Gross profit
$766.0M
Revenue
$8.5B
Cost of revenue
$7.7B
Quarter-over-quarter change
+0.8 pts
Year-over-year change
+1.0 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 |
|---|---|---|---|---|
| Feb 28, 2023 | $8.1B | $661.0M | $7.5B | 8.1% |
| May 31, 2023 | $8.5B | $697.0M | $7.8B | 8.2% |
| Aug 31, 2023 | $8.5B | $766.0M | $7.7B | 9.1% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
May 31, 2023
+0.8 pts
Year-over-year change
Aug 31, 2022
+1.0 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The gross margin improved sequentially and year-over-year, driven by a combination of higher gross profit and lower cost of revenue relative to revenue.
Sequentially, gross margin improved from the prior quarter, as gross profit rose while cost of revenue fell. Year-over-year, gross margin also strengthened, with gross profit increasing and cost of revenue declining compared to the same quarter last year.
Monitor the trend in cost of revenue, as its decline contributed to the gross margin improvement in both comparisons.