Api Group Corp (APG)
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 | 313,000 | 330,000 | 297,000 | 271,000 | 257,000 | 232,000 | 213,000 | 185,000 | 154,000 | 93,000 | 100,000 | 84,000 | 70,000 | 79,000 | 28,000 | 53,000 | 47,000 | -184,000 | -317,000 | -355,721 |
| Revenue (ttm) | US$ in thousands | 7,136,000 | 7,018,000 | 6,916,000 | 6,874,000 | 6,915,000 | 6,928,000 | 6,872,000 | 6,823,000 | 6,701,000 | 6,558,000 | 5,967,000 | 5,279,000 | 4,608,000 | 3,940,000 | 3,710,000 | 3,621,000 | 3,532,000 | 3,587,000 | 3,690,000 | 3,845,470 |
| Pretax margin | 4.39% | 4.70% | 4.29% | 3.94% | 3.72% | 3.35% | 3.10% | 2.71% | 2.30% | 1.42% | 1.68% | 1.59% | 1.52% | 2.01% | 0.75% | 1.46% | 1.33% | -5.13% | -8.59% | -9.25% |
March 31, 2025 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $313,000K ÷ $7,136,000K
= 4.39%
The analysis of Api Group Corp's pretax margin over the specified periods reveals a notable trend of improvement from 2020 through 2025. During the fiscal year ending June 30, 2020, the pretax margin was negative at -9.25%, indicating that the company's operating expenses exceeded its earnings before tax, which reflects unprofitable operations during that period. This negative margin persisted through the subsequent quarters of 2020, albeit with a gradual reduction in negative profitability, registering at -8.59% at September 30, 2020, and improving further to -5.13% by December 31, 2020.
Starting from the first quarter of 2021, the pretax margin transitioned into positive territory, reaching 1.33%, signaling a shift toward profitable operations. This period marked the beginning of a consistent upward trajectory, with margins increasing to 1.46% in June 2021 and maintaining a modest rise through the subsequent quarters—0.75% in September 2021 and 2.01% at year-end 2021. The upward momentum persisted into the first quarter of 2022 at 1.52%, and marginal increases were observed in subsequent quarters: 1.59% in June 2022, 1.68% in September 2022, and a slight decline to 1.42% in December 2022.
In 2023, the pretax margin continued to trend upward, reaching 2.30% in the first quarter, then increasing to 2.71% and 3.10% in the June and September quarters respectively, culminating at 3.35% at year-end. The progressive trend further accelerated in 2024, with margins ascending to 3.72%, 3.94%, 4.29%, and 4.70% across the first four quarters, reflecting ongoing improvement in profitability before experiencing a slight decrease to 4.39% in the first quarter of 2025.
In summary, Api Group Corp's pretax margin has demonstrated a significant turnaround from losses in 2020 to sustained positive profitability reaching over 4% by late 2024. This trend indicates enhanced operational efficiency, improved cost management, or favorable market conditions that collectively contributed to a healthier earnings before tax relative to revenues over the analyzed period.
Peer comparison
Mar 31, 2025