Balchem Corporation (BCPC)
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 | 137,261 | 129,770 | 124,380 | 125,238 | 133,749 | 141,119 | 142,119 | 132,880 | 125,233 | 120,134 | 115,956 | 111,910 | 106,417 | 100,738 | 97,267 | 96,175 | 96,478 | 99,373 | 98,466 | 98,646 |
| Revenue (ttm) | US$ in thousands | 922,439 | 926,271 | 940,590 | 946,031 | 942,358 | 922,960 | 876,562 | 842,234 | 799,023 | 766,603 | 743,874 | 714,864 | 703,644 | 689,458 | 672,913 | 661,112 | 643,705 | 640,717 | 637,165 | 639,298 |
| Pretax margin | 14.88% | 14.01% | 13.22% | 13.24% | 14.19% | 15.29% | 16.21% | 15.78% | 15.67% | 15.67% | 15.59% | 15.65% | 15.12% | 14.61% | 14.45% | 14.55% | 14.99% | 15.51% | 15.45% | 15.43% |
December 31, 2023 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $137,261K ÷ $922,439K
= 14.88%
Balchem Corp.'s pretax margin has shown some fluctuation in recent quarters. In Q4 2023, the pretax margin was 14.88%, a slight increase from the previous quarter's 14.01%. However, compared to the same quarter in the previous year, the pretax margin was slightly lower at 14.19%.
Over the last eight quarters, the pretax margin has ranged from a low of 13.22% in Q2 2023 to a high of 16.21% in Q2 2022. The company's performance seems to have been more consistent in the earlier part of the period, with pretax margins above 15% for three consecutive quarters from Q2 2022 to Q4 2022.
Overall, while the pretax margin has shown some variability, it has generally remained within a relatively narrow range. Balchem Corp. may want to focus on maintaining or improving its pretax margin to ensure profitability and financial stability in the long term.
Peer comparison
Dec 31, 2023