JABIL INC stock research
FY2025 Q3
JABIL (JBL) Gross Margin — Quarter Ended May 31, 2025
Revenue and gross profit were both higher than the preceding quarter and the same quarter one year earlier. Cost of revenue increased at a similar pace, leaving gross margin slightly improved versus the prior quarter but weakened compared to the same quarter last year.
Gross margin takeaway
Quarter ended May 31, 2025 · FY2025 Q3
Revenue and gross profit were both higher than the preceding quarter and the same quarter one year earlier. Cost of revenue increased at a similar pace, leaving gross margin slightly improved versus the prior quarter but weakened compared to the same quarter last year.
- The gross margin of the current quarter was slightly higher than the prior quarter but lower than the year-ago quarter, driven by proportionally larger revenue relative to cost of revenue in the sequential comparison.
- Compared to the immediately preceding quarter, revenue and gross profit increased while gross margin improved marginally. Compared to the same quarter one year earlier, gross profit was higher but gross margin was lower, reflecting a proportionally larger increase in cost of revenue.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
8.7%
Gross profit
$681.0M
Revenue
$7.8B
Cost of revenue
$7.1B
Quarter-over-quarter change
+0.1 pts
Year-over-year change
-0.3 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 |
|---|---|---|---|---|
| Aug 31, 2024 | $7.0B | $663.0M | $6.3B | 9.5% |
| Nov 30, 2024 | $7.0B | $606.0M | $6.4B | 8.7% |
| Feb 28, 2025 | $6.7B | $576.0M | $6.2B | 8.6% |
| May 31, 2025 | $7.8B | $681.0M | $7.1B | 8.7% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Feb 28, 2025
+0.1 pts
Year-over-year change
May 31, 2024
-0.3 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The gross margin of the current quarter was slightly higher than the prior quarter but lower than the year-ago quarter, driven by proportionally larger revenue relative to cost of revenue in the sequential comparison.
Compared to the immediately preceding quarter, revenue and gross profit increased while gross margin improved marginally. Compared to the same quarter one year earlier, gross profit was higher but gross margin was lower, reflecting a proportionally larger increase in cost of revenue.
Monitor whether the cost of revenue continues to grow at a rate that outpaces revenue, which would pressure gross margin further.