American Woodmark Corporation (AMWD)
Pretax margin
| Apr 30, 2025 | Jan 31, 2025 | Oct 31, 2024 | Jul 31, 2024 | Apr 30, 2024 | Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | Jul 31, 2022 | Apr 30, 2022 | Jan 31, 2022 | Oct 31, 2021 | Jul 31, 2021 | Apr 30, 2021 | Jan 31, 2021 | Oct 31, 2020 | Jul 31, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) (ttm) | US$ in thousands | 126,538 | 129,263 | 137,992 | 143,000 | 151,968 | 155,200 | 146,388 | 144,390 | 122,686 | 101,925 | 15,725 | -20,428 | -42,979 | -58,066 | 31,617 | 59,190 | 77,435 | 92,412 | 86,570 | 86,665 |
| Revenue (ttm) | US$ in thousands | 1,709,585 | 1,762,468 | 1,786,990 | 1,808,375 | 1,847,502 | 1,875,319 | 1,933,930 | 2,021,562 | 2,066,200 | 2,086,811 | 2,065,834 | 1,957,498 | 1,857,186 | 1,828,870 | 1,801,088 | 1,796,508 | 1,744,014 | 1,669,821 | 1,633,622 | 1,613,055 |
| Pretax margin | 7.40% | 7.33% | 7.72% | 7.91% | 8.23% | 8.28% | 7.57% | 7.14% | 5.94% | 4.88% | 0.76% | -1.04% | -2.31% | -3.17% | 1.76% | 3.29% | 4.44% | 5.53% | 5.30% | 5.37% |
April 30, 2025 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $126,538K ÷ $1,709,585K
= 7.40%
The pretax margin of American Woodmark Corporation demonstrates notable variability over the analyzed period from July 2020 to April 2025. Initially, the company maintained a relatively stable pretax margin in the range of approximately 5.3% to 5.5% during the latter half of 2020 and early 2021. This indicates a consistent profitability before taxes during that timeframe.
However, commencing with the fiscal quarter ending April 2021, the pretax margin experienced a decline, reaching a low of -3.17% in January 2022, reflecting periods of losses or diminished profitability. The negative margins persisted through April 2022, with the lowest point at -2.31%, indicating the company faced significant operational challenges or increased expenses relative to revenues.
From the second quarter of 2022 onward, a recovery trend emerges. The pretax margin improved steadily, crossing into positive territory again and reaching 0.76% by October 2022. Subsequent quarters show continued improvement, with margins rising to 4.88% in January 2023 and further growth to 7.57% by October 2023. This upward trajectory suggests an enhancement in overall profitability and operational efficiency.
The most recent data indicate a sustained strong pretax margin, with figures exceeding 7.5% through the first half of 2024, peaking at 8.28% in January 2024. Slight fluctuations are observed thereafter, with margins stabilizing around the 7.7% to 7.9% range by October 2024 and April 2025.
Overall, the pretax margin trajectory reflects periods of challenges and recoveries, with a significant turnaround beginning in late 2022 and persisting into 2025. The trend suggests that American Woodmark Corporation has, in recent periods, improved its profitability margins before taxes, indicating operational resilience and potential strategic or market-driven improvements.