Baxter International Inc (BAX)
Pretax margin
| 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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) (ttm) | US$ in thousands | 2,633,000 | 2,486,000 | -2,790,000 | -2,373,000 | -2,350,000 | -2,334,000 | 1,106,000 | 1,209,000 | 1,466,000 | 1,394,000 | 1,357,000 | 1,256,000 | 1,284,000 | 850,000 | 913,000 | 951,000 | 960,000 | 1,594,000 | 1,491,000 | 1,569,000 |
| Revenue (ttm) | US$ in thousands | 14,920,000 | 14,899,000 | 14,958,000 | 15,052,000 | 15,164,000 | 14,775,000 | 14,223,000 | 13,534,000 | 12,731,000 | 12,327,000 | 12,064,000 | 11,659,000 | 11,491,000 | 11,459,000 | 11,330,000 | 11,475,000 | 11,340,000 | 11,142,000 | 11,110,000 | 11,118,000 |
| Pretax margin | 17.65% | 16.69% | -18.65% | -15.77% | -15.50% | -15.80% | 7.78% | 8.93% | 11.52% | 11.31% | 11.25% | 10.77% | 11.17% | 7.42% | 8.06% | 8.29% | 8.47% | 14.31% | 13.42% | 14.11% |
December 31, 2023 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $2,633,000K ÷ $14,920,000K
= 17.65%
The pretax margin of Baxter International Inc. has fluctuated over the past 8 quarters, as seen in the table provided. The pretax margin represents the percentage of revenue that remains as profit before taxes are deducted. In Q4 2023, the pretax margin was -0.79%, indicating that the company incurred a loss before taxes. This was a slight improvement compared to the previous quarter's pretax margin of -0.41%. However, in Q2 2023 and Q1 2023, the pretax margins were notably lower at -19.01% and -15.79% respectively, suggesting significant losses in those periods.
Comparing the most recent quarters to the same periods in the previous year, there has been a mixed performance. While there was a substantial decline in pretax margin from Q4 2022 to Q4 2023, with the margin decreasing from -15.57% to -0.79%, there was a notable improvement in pretax margin from Q2 2022 and Q1 2022, where the company reported positive margins of 7.83% and 8.93% respectively.
Overall, the trend in Baxter International Inc.'s pretax margin appears to be volatile, with periods of losses and gains. It is important for the company to closely monitor its operating expenses and revenue generation to improve profitability and maintain a healthy pretax margin in the future.
Peer comparison
Dec 31, 2023