Cal-Maine Foods Inc (CALM)
Pretax margin
| May 31, 2025 | Feb 28, 2025 | Nov 30, 2024 | Aug 31, 2024 | Jun 1, 2024 | May 31, 2024 | Mar 2, 2024 | Feb 29, 2024 | Dec 2, 2023 | Nov 30, 2023 | Sep 2, 2023 | Aug 31, 2023 | Jun 3, 2023 | May 31, 2023 | Feb 28, 2023 | Feb 25, 2023 | Nov 30, 2022 | Nov 26, 2022 | Aug 31, 2022 | Aug 27, 2022 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) (ttm) | US$ in thousands | 1,603,142 | 1,302,215 | 791,147 | 687,694 | 674,900 | 545,177 | 415,334 | 231,074 | 46,648 | 170,410 | 294,207 | 717,846 | 1,142,450 | 1,258,407 | 1,375,053 | 1,115,646 | 855,942 | 740,037 | 623,957 | 511,525 |
| Revenue (ttm) | US$ in thousands | 4,261,882 | 3,799,011 | 3,022,120 | 2,778,385 | 2,695,590 | 2,584,704 | 2,467,149 | 2,222,959 | 1,979,227 | 2,138,004 | 2,303,450 | 2,834,197 | 3,378,493 | 3,491,513 | 3,606,434 | 3,267,285 | 2,922,859 | 2,714,123 | 2,503,481 | 2,322,622 |
| Pretax margin | 37.62% | 34.28% | 26.18% | 24.75% | 25.04% | 21.09% | 16.83% | 10.39% | 2.36% | 7.97% | 12.77% | 25.33% | 33.82% | 36.04% | 38.13% | 34.15% | 29.28% | 27.27% | 24.92% | 22.02% |
May 31, 2025 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $1,603,142K ÷ $4,261,882K
= 37.62%
The pretax margin of Cal-Maine Foods Inc. exhibits considerable variability over the specified period, reflecting fluctuations in profitability before income taxes. Starting from August 27, 2022, the pretax margin was approximately 22.02%, and it experienced an upward trend, reaching a peak of 38.13% on February 28, 2023. This peak likely indicates periods of enhanced operational efficiency or favorable market conditions contributing to higher pre-tax profitability.
Subsequently, the pretax margin declined notably after mid-2023, with values decreasing to around 12.77% by September 2, 2023, and further down to 2.36% by December 2, 2023. This downward trend suggests possible challenges during this period, such as increased costs, market pressures, or reduced margins on product sales.
In the following months, there was a partial recovery of the pretax margin, reaching approximately 16.83% on March 2, 2024, and continuing to improve into 2024, with values around 21.09% on May 31, 2024, and further to 25.04% on June 1, 2024. The margin stabilized around the mid-20% range during this period before ascending again to 34.28% by February 28, 2025, indicating a return to higher profitability levels.
Overall, the pretax margin demonstrates periods of expansion and contraction, with notable peaks correlating to favorable operating conditions, followed by declines possibly due to market or cost pressures, and subsequent recoveries signaling resilience and operational adjustments. The trend suggests that Cal-Maine Foods Inc. experienced significant cyclical volatility, aligned with broader industry dynamics and internal factors influencing pre-tax profitability.