American Axle & Manufacturing (AXL)
Pretax margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) | US$ in thousands | -24,500 | 66,300 | 1,200 | -610,500 | -533,400 |
| Revenue | US$ in thousands | 6,079,500 | 5,802,400 | 5,156,600 | 4,710,800 | 6,530,900 |
| Pretax margin | -0.40% | 1.14% | 0.02% | -12.96% | -8.17% |
December 31, 2023 calculation
Pretax margin = EBT ÷ Revenue
= $-24,500K ÷ $6,079,500K
= -0.40%
The pretax margin of American Axle & Manufacturing Holdings Inc has displayed considerable variability over the past five years. In 2023, the company experienced a negative pretax margin of -0.40%, indicating that its pre-tax profits were lower than its revenues. This performance contrasts with the positive pretax margins seen in 2022 (1.14%) and 2021 (0.02%). Notably, in 2020 and 2019, the company reported significantly negative pretax margins of -12.96% and -8.16% respectively.
The negative pretax margins in 2020 and 2019 suggest that American Axle & Manufacturing Holdings Inc faced challenges in generating profits before accounting for taxes. However, the positive margins in 2022 and 2021 show improvement in this aspect. The return to negative margin in 2023 indicates a potential reversal in profitability.
Overall, the fluctuating pretax margins of American Axle & Manufacturing Holdings Inc reflect the company's varying levels of profitability and operational efficiency over the past five years, highlighting the importance of closely monitoring and managing costs to maintain sustainable financial performance.
Peer comparison
Dec 31, 2023