ANGI Homeservices Inc (ANGI)
Pretax margin
| Mar 31, 2025 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) (ttm) | US$ in thousands | 37,702 | 20,077 | 27,766 | 7,761 | -17,484 | -31,334 | -99,287 | -106,417 | -117,550 | -145,232 | -119,983 | -123,083 | -134,602 | -102,507 | -78,860 | -63,871 | -8,454 | -19,328 | -3,109 | 26,610 |
| Revenue (ttm) | US$ in thousands | 1,125,635 | 1,185,112 | 1,217,676 | 1,292,794 | 1,352,728 | 1,439,745 | 1,580,858 | 1,707,057 | 1,847,771 | 1,891,523 | 1,865,833 | 1,829,362 | 1,734,568 | 1,685,438 | 1,628,883 | 1,557,231 | 1,511,304 | 1,467,925 | 1,430,132 | 1,397,577 |
| Pretax margin | 3.35% | 1.69% | 2.28% | 0.60% | -1.29% | -2.18% | -6.28% | -6.23% | -6.36% | -7.68% | -6.43% | -6.73% | -7.76% | -6.08% | -4.84% | -4.10% | -0.56% | -1.32% | -0.22% | 1.90% |
March 31, 2025 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $37,702K ÷ $1,125,635K
= 3.35%
An analysis of ANGI Homeservices Inc.'s pretax margin over the period from June 2020 through March 2025 reveals a trajectory characterized by an initial period of profitability followed by a sustained phase of losses, with recent indications of improving profitability.
In June 2020, the company's pretax margin was positive at approximately 1.90%, signifying operational profitability. However, this profitability significantly deteriorated in subsequent quarters, turning negative by September 2020 at -0.22% and deepening further to -1.32% by December 2020. Throughout 2021, the pretax margin remained predominantly negative, with losses intensifying notably to -6.08% in December 2021 and reaching a trough of -7.76% in March 2022, indicative of substantial operational challenges or strategic investments impacting profitability.
From mid-2022 onward, the pretax margin demonstrated ongoing negative values, albeit with a gradual stabilization. By June 2022, the margin improved marginally to -6.73%, continuing along a relatively steady negative trend through late 2023, with the margin standing at -6.28% as of September 2023 and -2.18% at December 2023. This period reflects a persistent struggle with profitability, potentially due to elevated expenses or market dynamics adverse to operational margins.
A noteworthy development occurs in early 2024, when the pretax margin shifts toward positive territory, reaching 0.60% in June 2024, and further advancing to 2.28% in September 2024. This upward trend persists into December 2024 at 1.69%, and continues into March 2025 with a margin of 3.35%. Such improvements suggest a significant turnaround in profitability, potentially driven by operational efficiencies, increased revenues, or strategic initiatives that have begun to bear fruit.
Overall, the pretax margin trend of ANGI Homeservices Inc. reflects a substantial period of negative profitability since late 2020, with a recent positive shift indicating a potential recovery phase. The shifts from losses toward gains highlight a notable change in the company's financial performance trajectory in the most recent quarters.
Peer comparison
Mar 31, 2025