The AES Corporation (AES)
Pretax margin
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) (ttm) | US$ in thousands | 1,645,000 | 1,159,000 | 894,000 | 703,000 | 510,000 | -302,000 | -76,000 | -233,000 | -281,000 | -297,000 | -394,000 | -227,000 | -542,000 | 777,000 | -172,000 | -111,000 | 262,000 | -245,000 | 575,000 | 619,000 |
| Revenue (ttm) | US$ in thousands | 12,278,000 | 12,284,000 | 12,429,000 | 12,514,000 | 12,668,000 | 12,760,000 | 12,953,000 | 13,004,000 | 12,617,000 | 12,327,000 | 11,736,000 | 11,358,000 | 11,141,000 | 10,931,000 | 10,440,000 | 9,957,000 | 9,660,000 | 9,531,000 | 9,611,000 | 9,877,000 |
| Pretax margin | 13.40% | 9.44% | 7.19% | 5.62% | 4.03% | -2.37% | -0.59% | -1.79% | -2.23% | -2.41% | -3.36% | -2.00% | -4.86% | 7.11% | -1.65% | -1.11% | 2.71% | -2.57% | 5.98% | 6.27% |
December 31, 2024 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $1,645,000K ÷ $12,278,000K
= 13.40%
The pretax margin of The AES Corporation has shown fluctuating trends over the period from March 31, 2020, to December 31, 2024. The pretax margin was relatively stable between March 2020 and December 2021, with values ranging from 6.27% to -4.86%. However, there was a significant improvement in the pretax margin from March 31, 2022, onwards, reaching a peak of 13.40% by December 31, 2024.
The company faced challenges in maintaining positive pretax margins in some quarters, as evidenced by negative values recorded in several periods, particularly in 2021 and 2022. It is noteworthy that The AES Corporation managed to reverse this trend and achieve substantial growth in profitability, as demonstrated by the double-digit pretax margins recorded in the latter part of 2024.
Overall, the pretax margin analysis indicates that The AES Corporation has shown resilience in overcoming volatility and improving its profitability performance in the later periods under review.