The Mosaic Company stock research
FY2026 Q1
The Mosaic (MOS) Gross Margin — Quarter Ended Mar 31, 2026
Revenue remained flat compared to the prior quarter but increased against the same quarter last year, while cost of revenue rose in both comparisons, causing gross profit and gross margin to decline. The gross margin weakened as the cost of revenue grew faster than revenue.
Gross margin takeaway
Quarter ended Mar 31, 2026 · FY2026 Q1
Revenue remained flat compared to the prior quarter but increased against the same quarter last year, while cost of revenue rose in both comparisons, causing gross profit and gross margin to decline. The gross margin weakened as the cost of revenue grew faster than revenue.
- The strongest observable margin driver is the increase in cost of revenue relative to revenue, which reduced gross profit and margin in both sequential and year-over-year comparisons.
- Compared to the immediately preceding quarter, revenue was stable but gross profit and gross margin were lower, with cost of revenue higher. Versus the same quarter one year earlier, revenue was higher, yet gross profit and gross margin were markedly lower, and cost of revenue was substantially higher.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
7.9%
Gross profit
$235.6M
Revenue
$3.0B
Cost of revenue
$2.8B
Quarter-over-quarter change
-3.7 pts
Year-over-year change
-10.8 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 |
|---|---|---|---|---|
| Jun 30, 2025 | $3.0B | $518.6M | $2.5B | 17.3% |
| Sep 30, 2025 | $3.5B | $552.3M | $2.9B | 16.0% |
| Dec 31, 2025 | $3.0B | $342.6M | $2.6B | 11.5% |
| Mar 31, 2026 | $3.0B | $235.6M | $2.8B | 7.9% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Dec 31, 2025
-3.7 pts
Year-over-year change
Mar 31, 2025
-10.8 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The strongest observable margin driver is the increase in cost of revenue relative to revenue, which reduced gross profit and margin in both sequential and year-over-year comparisons.
Compared to the immediately preceding quarter, revenue was stable but gross profit and gross margin were lower, with cost of revenue higher. Versus the same quarter one year earlier, revenue was higher, yet gross profit and gross margin were markedly lower, and cost of revenue was substantially higher.
Monitor the trend of cost of revenue relative to revenue, as its growth continues to compress gross margin.
Peer context
Latest available gross margins for related public companies.
| Company | Gross margin |
|---|---|
| The Mosaic Company (MOS) | 7.9% |