Skyworks Solutions, Inc. stock research
FY2023 Q4
Skyworks Solutions (SWKS) Gross Margin — Quarter Ended Sep 29, 2023
Revenue and gross profit both increased compared to the prior quarter, while cost of revenue rose at a faster rate, causing gross margin to weaken. Versus the same quarter one year earlier, revenue and gross profit were lower, and gross margin also declined.
Gross margin takeaway
Quarter ended Sep 29, 2023 · FY2023 Q4
Revenue and gross profit both increased compared to the prior quarter, while cost of revenue rose at a faster rate, causing gross margin to weaken. Versus the same quarter one year earlier, revenue and gross profit were lower, and gross margin also declined.
- The relationship among revenue, gross profit, cost of revenue, and gross margin shows that cost of revenue increased more than revenue on a sequential basis, compressing margin. The year-over-year decline in revenue and gross profit was accompanied by a relatively smaller decrease in cost of revenue, further weakening gross margin.
- Compared to the immediately preceding quarter, revenue and gross profit were higher, but gross margin was lower. Compared to the same quarter one year earlier, revenue, gross profit, and gross margin were all lower.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
39.2%
Gross profit
$478.1M
Revenue
$1.2B
Cost of revenue
$740.7M
Quarter-over-quarter change
-4.1 pts
Year-over-year change
-8.3 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 |
|---|---|---|---|---|
| Mar 31, 2023 | $1.2B | $527.4M | $625.7M | 45.7% |
| Jun 30, 2023 | $1.1B | $464.1M | $607.1M | 43.3% |
| Sep 29, 2023 | $1.2B | $478.1M | $740.7M | 39.2% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Jun 30, 2023
-4.1 pts
Year-over-year change
Sep 30, 2022
-8.3 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The relationship among revenue, gross profit, cost of revenue, and gross margin shows that cost of revenue increased more than revenue on a sequential basis, compressing margin. The year-over-year decline in revenue and gross profit was accompanied by a relatively smaller decrease in cost of revenue, further weakening gross margin.
Compared to the immediately preceding quarter, revenue and gross profit were higher, but gross margin was lower. Compared to the same quarter one year earlier, revenue, gross profit, and gross margin were all lower.
Monitor the trajectory of cost of revenue relative to revenue, as its faster sequential growth drove margin compression.